Nickel Futures Inch Higher On Rising Demand

Nickel futures were trading higher during the noon trade in the domestic market on Tuesday as speculators increased their positions, taking positive cues from spot market on soaring demand. Analysts said, widening of positions by traders on the back of rising demand from alloy-makers at domestic spot markets and a firm trend overseas kept nickel prices higher in futures trade.

At the MCX, nickel futures for July 2018 contract is trading at Rs 975.00 per kg, up by 1.11 per cent, after opening at Rs 970.00, against a previous close of Rs 964.3. It touched the intra-day high of Rs 976.60 (at 12:26 hours).

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Suhani Verma

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