Nickel climbs 0.32% on spot demand, global cues

Nickel prices were up by 0.32 per cent at Rs 717.60 per kg in futures trade today on pick up in demand from consuming industries in the spot market amid a firm trend in select base metals overseas.

At the Multi Commodity Exchange, nickel for delivery in October month moved up by Rs 2.30, or 0.32 per cent, to Rs 717.60 per kg, in a business turnover of 63 lots.

Also, the metal for delivery in current month gained Rs 2.20, or 0.31 per cent, to Rs 712.80 per kg in 2,586 lots.

Analysts said besides pick-up in domestic demand from alloy-makers, a firm trend in base metals in global markets led to rise in nickel futures.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)