Nickel roars on upbeat physical demand
18/08/2016 16:00
Nickel futures climbed almost 1 per cent during late noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the domestic spot market.
Speculation that the US Federal Reserve may keep interest rates lower for longer also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, nickel futures for August 2016 contract is trading at Rs 691.30 per kg, up by 0.86 per cent, after opening at Rs 689.1, against a previous close of Rs 685.40. It touched the intra-day high of Rs 695.5 (at 15:44 PM).
18/08/2016 16:00
Speculation that the US Federal Reserve may keep interest rates lower for longer also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, nickel futures for August 2016 contract is trading at Rs 691.30 per kg, up by 0.86 per cent, after opening at Rs 689.1, against a previous close of Rs 685.40. It touched the intra-day high of Rs 695.5 (at 15:44 PM).
