Tag: Nickel

Nickel futures keep head above water

Nickel futures keep head above water

03/07/2017 17:11

Nickel futures were trading higher during evening trade in the domestic market on Monday as investors and speculators extended their bets in the industrial metal on surging demand from alloy-makers at domestic markets.

The prices of metal also rose on global cues as the market fretted about shortages, dwindling stocks and expectations of strong demand from top consumer China.

At the MCX, nickel futures for July 2017 contract is trading at Rs 611.50 per kg, up by 0.74 per cent, after opening at Rs 608.30, against a previous close of Rs 607. It touched the intra-day high of Rs 612.60 (at 17:07 hours).

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Nickel futures climb 0.52% on overseas cues

03/04/2017 17:18

Nickel futures were trading higher during evening trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on surge in physical demand amid weakness in the US dollar after tepid US economic data and dovish remarks from the US Fed official on Friday.

The US consumer spending hardly surge in February amid delays in income tax refunds payment, however, the biggest annual rise in inflation in nearly 5 years supported expectations of further interest rate hikes this year.

Meanwhile, St. Louis Fed President James Bullard said on Friday that, the Fed could pause interest rate hikes when it begins shedding its bond holdings, a move that would have little effect on financial markets.

At the MCX, nickel futures for April 2017 contract is trading at Rs 654.40 per kg, up by 0.52 per cent, after opening at Rs 650, against a previous close of Rs 651. It touched the intra-day high of Rs 655 (at 17:19 hours).

Nickel futures in reverse gear

30/03/2017 17:04

Nickel futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal on fall in physical demand amid stronger US dollar.

The greenback strengthens on strong US economic data that boosted expectations for further interest rate hikes by the US Federal Reserve this year.

Meanwhile, investors waited for further clues for direction as the final US fourth-quarter growth numbers are announced later in the session, or when China’s manufacturing figures are out on Friday. At the MCX, nickel futures for March 2017 contract is trading at Rs 645.10 per kg, down by 0.17 per cent, after opening at Rs 643.70, against a previous close of Rs 646.20. It touched the intra-day low of Rs 641.50 (at 17:05 hours).

Nickel futures climb 0.37% on uptick in demand

27/02/2017 16:59

Nickel futures rose during evening trade in the domestic market on Monday as investors and speculators extended their bets in the industrial metal tracking a firm trend at spot market on rising demand.

Marketmen said that increasing of positions by participants owing to pick up in demand from alloy-makers in the spot market, mainly attributed the rise in nickel prices at futures trade.

At the MCX, nickel futures for February 2017 contract is trading at Rs 726.40 per kg, up by 0.37 per cent, after opening at Rs 725, against a previous close of Rs 723.70. It touched the intra-day high of Rs 729.50 (at 16:54 hours).

Nickel futures climb 1.59% on overseas cues

Nickel futures climb 1.59% on overseas cues

23/01/2017 16:48

Nickel futures jumped over 1 per cent during evening trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on US dollar weakness and as US President Trump reiterated plans to spend big on infrastructure.

Trump, in his inauguration speech on Friday, had promised to generate new investments to re-build highways, bridges, airports and other infrastructure.

At the MCX, nickel futures for January 2017 contract is trading at Rs 669.20 per kg, up by 1.59 per cent, after opening at Rs 665.30, against a previous close of Rs 658.70. It touched the intra-day high of Rs 675 (at 16:49 hours).

Nickel futures in reverse gear

Nickel futures in reverse gear

17/01/2017 17:03

Nickel futures fell during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on firm US dollar, against a basket of other currencies.

The US dollar strengthened as investors awaited the British Prime Minister Theresa May’s speech today in which she may say that the UK is likely to pull out of the single market for goods and services and seek a completely new trading relationship with the bloc.

However, expectations of strong demand in top consumer China, restricted further slide in nickel prices at futures trade.

At the MCX, nickel futures for January 2017 contract is trading at Rs 692.30 per kg, down by 0.70 per cent, after opening at Rs 695.80, against a previous close of Rs 697.20. It touched the intra-day low of Rs 686.50 (at 17:04 hours).

Nickel futures hurt by overseas cues

28/12/2016 16:54

Nickel futures plunged by more than 1 per cent during evening trade in the domestic market on Thursday as investors and speculators exited their bets in the industrial metal to book profits and concerns about demand growth in the world’s top commodities market lingered.

Traders said concerns about Chinese property market, pointing to moves to limit property speculation in next year and a likely drop-off in Chinese government’s efforts to boost demand.

Also, participants indulged in speeding up book-squaring as year-end is approaching.

At the MCX, nickel futures for December 2016 contract is trading at Rs 692.50 per kg, down by 1.75 per cent, after opening at Rs 698.40, against a previous close of Rs 704.80. It touched the intra-day low of Rs 691.50 (at 16:54 hours).

Nickel futures zoom on spot demand, overseas cues

Nickel futures zoom on spot demand, overseas cues

13/12/2016 17:11

Nickel futures jumped by more than 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators extended their bets in the industrial metal on pick-up in demand from alloy-makers at the domestic spot markets, and amidst modestly better-than-expected Chinese industrial output growth in November.

Further, China reported retail sales jumped 10.8 per cent, better than the 10.1 per cent rise seen y-o-y for November, along with industrial production that gained 6.2 per cent, a tick better than the expected 6.1 per cent increase and fixed asset investment came in as seen up 8.3 per cent.

At the MCX, nickel futures for December 2016 contract is trading at Rs 773.30 per kg, up by 1.39 per cent, after opening at Rs 766, against a previous close of Rs 762.70. It touched the intra-day high of Rs 774 (at 17:01 hours).

Nickel futures little changed

01/12/2016 16:41

Nickel futures were little changed during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal despite rally in global crude after OPEC ministers forged a deal to cut oil production.

Oil prices rallied after major producers agreed to trim oil production for the first time in 8 years.

At the MCX, nickel futures for December 2016 contract is trading at Rs 767.50 per kg, down by 0.07 per cent, after opening at Rs 767.50, against a previous close of Rs 768. It touched the intra-day low of Rs 765.20 (at 16:38 hours).

Nickel futures surge on overseas cues

Nickel futures surge on overseas cues

23/11/2016 16:18

Nickel futures rose during evening trade in the domestic market on Wednesday as investors and speculators bet that rising energy prices would stoke inflation, while falling inventories also supported prices.

Moreover, signs of rising US inflation and further depreciation in the yuan, too supported uptrend in nickel prices at futures trade.

Nickel seems to be a cheaper hedge against inflation than precious metals.

Further, bullish homes sales data has added to signs of an improved US economic outlook, which supported nickel prices. At the MCX, nickel futures for November 2016 contract is trading at Rs 775.10 per kg, up by 0.16 per cent, after opening at Rs 776, against a previous close of Rs 773.90. It touched the intra-day high of Rs 778.30 (at 16:13 hours).