Nickel futures up on pickup in demand

Nickel futures were trading higher during the noon trade in the domestic market on Monday as speculators increased their positions, taking positive cues from spot market on soaring demand. Analysts said, widening of positions by traders on the back of rising demand from alloy-makers at domestic spot markets and a firm trend overseas kept nickel prices higher in futures trade.

At the MCX, nickel futures for August 2018 contract is trading at Rs 960.80 per kg, up by 0.87 per cent, after opening at Rs 957.60, against a previous close of Rs 952.50. It touched the intra-day high of Rs 962.90.

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