Nickel rises due to overseas cues

Nickel rises due to overseas cues
On May 26, 2011, the prices of nickel for the June contract traded Rs 4.20, or 0.39% higher at Rs 1,072 per kg, with a business turnover of 669 lots a the Multi Commodity Exchange (MCX) since fresh holdings were created by the traders tracking the steady trend at the London Metal Exchange (LME).

The metal for the July contract also gained Rs 3.80, or 0.35% to Rs 1,081 per kg, with a business turnover of eight lots at the MCX.

The metal for the May contract also moved up by Rs 3.50, or 0.33% to Rs 1,062.60 per kg at the MCX.

The nickel added 0.2% to $23,440 per tonne at the LME.

Moreover, the higher demand from alloy makers at the spot markets also supported the prices.

Read more about: nickle, commodities, mcx, lme
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