Nickel prices rose by Rs 2.60 to Rs 952.50 per kg in futures trade today as speculators enlarged their positions, tracking a firm trend in base metals overseas and a pick-up in domestic demand.
At the Multi Commodity Exchange, the December contract rose by Rs 2.60, or 0.27% to Rs 952.50 per kg in business turnover of 1,329 lots.
The January contract also rose by a similar margin at Rs 959.40 per kg in a turnover of 191 lots.
Market analysts said fresh positions created by speculators supported by a firming trend overseas on hopes that a recovering Chinese economy will raise demand from the world's largest user of metal, influenced nickel futures here.
Besides, rising demand at spot markets, particularly from alloy-makers, also supported the upside, they said.
