Nickel futures up on global cues

Nickel futures traded higher by 0.69 per cent after speculators enlarged their positions amid a firming trend at the London Metal Exchange (LME). 

Also, covering-up of short positions and a better trend at the spot markets on the back of increased demand from alloy-makers supported the upside in nickel futures prices. 

At the Multi Commodity Exchange , nickel for delivery in May traded higher by Rs 6.60, or 0.69 per cent to Rs 1,019 per kg, with a business turnover of 2,085 lots. 

The metal for delivery in June also gained Rs 6.60, or 0.65 per cent to Rs 1,028.30 per kg, with a turnover of 287 lots. 

Market analysts said besides a firming trend in copper and other base metals at the LME, covering-up of short positions by speculators and pick-up in spot markets demand supported the recovery in nickel futures prices.

Share this:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Karl Lagerfeld is plans to launch his first flagship store in UK

    Karl Lagerfeld is planning to launch his first flagship store in UK on one of the major shopping streets in West End of London, 145-147 Regent Street. Expected to open its doors on March 14, the brand new store will be the luxury fashion designer&

  • Smiggle to opens a new store in Brighton

    Australian stationary retailer Smiggle has opened a new store at Churchill Square shopping centre in Brighton as it continues its expansion across the UK. The store, which sells colourful stationary for 6-13 year-olds, will mark the firms first op

  • H and M open first standalone UK store

    The H&M-owned Cheap Monday which prides its self as selling “high level design at a low price” is to open its first standalone UK store today on London’s trendy Carnaby Street. The clothes retailer- which currently has conc

  • H&M opens new Texas flagship Store
    H&M opens new Texas flagship Store
    July 01, 2014 5:50 am

    The newest H&M store in the state covers 24,000 square feet and stands in Austin at The Domain – a high-end retail complex. The store will stock menswear, womenswear and childrenswear with separate areas for accessories, maternity wear