NEW DELHI: Nickel futures prices surged up to 2.18 per cent at the Multi Commodity Exchange on Monday as speculators covered-up their pending short positions, driven by firming trend in Asian trading.
Pick up in demand for the metal in the physical market also influenced nickel prices at futures market here.
At the MCX counters, nickel for delivery in January traded Rs 19.50 or 2.18 per cent higher at Rs 913 per kg.
The metal for current month contract also edged higher by Rs 18.10 or 2.04 per cent to Rs 905.60 per kg.
Market analysts attributed rising trend in nickel prices at futures market to continued short-covering by speculators, driven by firming trend in spot markets on the back of demand from alloy makers.
Besides, firming trend in Asian trading also supported the uptrend in metal prices, they added. — PTI
