Indian Express reported that supported by firm demand from alloy makers and a firming trend overseas, nickel prices moved up by INR 5.60 to INR 912.50 per kilogram in futures trade as speculators enlarged positions.

At the Multi Commodity Exchange, nickel for delivery in October 2012 rose by INR 5.60 or 0.62% to INR 912.50 per kilogram, with a business turnover of 3,082 lots.

Similarly, the metal for delivery in November 2012 traded higher by INR 5.60 or 0.61% to INR 920.60 per kilogram, with an open interest of 349 lots.

Marketmen said besides pick up in demand from alloy makers in the domestic spot markets, a firming trend in global markets on the back of encouraging economic data for September 2012 from China, mainly pushed up nickel prices at futures market.

Source - Indian Express

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