Market and product
Nickel strengthens on spot demand
At the Multi Commodity Exchange counter, nickel contract fordelivery in September gained Rs 4, or 0.39 per cent, to Rs 1,0.70 per kg,clocked a business turnover of 2,731 lots.
In a similar fashion, themetal for delivery in October also edged up by Rs 3.50, or 0.33 per cent, to Rs1,048.30 per kg, with a turnover of 321 lots.
Analysts said sustainedrise in nickel futures was supported by a firming trend in physical markets onthe back of strong demand from alloy makers, besides short-covering of positionsby speculators but weak trend overseas, restricted gains.
(Source: http://economictimes.indiatimes.com)
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