Nickel prices on Wednesday gained Rs 8.20 to Rs 944.60 per kg in futures trade as speculators built positions on rising demand from alloy-makers in spot market.
On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 8.20, or 0.88 per cent, to Rs 944.60 per kg in a business turnover of 2,518 lots.
Similarly, the metal for April delivery traded higher by Rs 11.50, or 1.23 per cent, at Rs 943.50 per kg in a business turnover of 25 lots.
Rising demand in spot market from alloy-makers mainly supported price rise in nickel futures, analysts said.