Nickel Recovers on Spot Demand, Short-Covering

Business Standard reports nickel futures prices rose by 1.31% amid higher spot demand from alloy makers and covering-up of short positions.

The market news is quoted as saying,

At the Multi Commodity Exchange, nickel for September delivery rose by Rs 13.10, or 1.31%, to Rs 1,009.90 per kg, with a business turnover of 543 lots.

Likewise, the metal for August delivery moved up by Rs 11.40, or 1.15%, to Rs 1,001.50 per kg, with a turnover of 7,674 lots.

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