Live Markets »News & Advice»Latest Stories»Latest Stories Details
Latest Stories Details
Back

Nickel gains on global cues, spot demand

Press Trust of India/New Delhi 24 Jul 12 | 06:01 PM

Rebound in base metals at the London Metal Exchange (LME) and a pick-up in demand from alloy-makers in the domestic spot market saw nickel prices rise 0.22% in futures trade today.

At the Multi Commodity Exchange, nickel for delivery in July traded higher by Rs 2.10, or 0.22%, to Rs 880.10 per kg, with a business turnover of 725 lots.

The August contract edged higher by Rs 2, or 0.22%, to Rs 891.60 per kg in 109 lots.

Analysts said the rebound in copper and other base metals at the LME owing to a better-than-expected July manufacturing output in China temporarily offset investor worries. Investors were worried that Spain's debt problems would undermine global demand for metals.

Nickel gained 0.44% to $15,668 a tonne at the LME.

Related Stories

    No Related Stories Found

Sensex

Company Price Gain (%)
Cipla557.405.23
Bharti Airtel391.904.24
Sun Pharma.Inds.863.152.50
HDFC Bank858.502.01
Hero Motocorp2,801.651.54

Poll

With upbeat economic data will the Nifty top 8,500 in September?


Online Portfolio

You can create Online Portfolio here using the below button.