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Nickel futures rise on firm spot demand

On the Multi Commodity Exchange, nickel contracts for July delivery gained Rs 4.90, or 0.5 percent, to Rs 981.10 per kg in a business turnover of 1,671 lots.

July 03, 2020 / 03:27 PM IST

Nickel prices on Friday rose 0.5 percent to Rs 981.10 per kg in futures trade as speculators built fresh positions on rising demand from alloy makers in spot market.

On the Multi Commodity Exchange, nickel contracts for July delivery gained Rs 4.90, or 0.5 percent, to Rs 981.10 per kg in a business turnover of 1,671 lots.

The metal for August delivery traded higher by Rs 5.50, or 0.56 percent, at Rs 986 per kg in a business turnover of 70 lots.

Rising demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.
PTI
first published: Jul 3, 2020 03:21 pm

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