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Nickel prices rose 0.54% to Rs 886.50 per kg in futures trade today as participants enlarged speculative positions amid positive cues and rising demand from alloy makers at domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 5.80, or 0.54%, to Rs 886.50 per kg in a business turnover of 782 lots.
The metal for delivery in March was up by Rs 4.20, or 0.47%, to trade at Rs 894 per kg in 34 lots.
Market analysts said rising demand from alloy makers and firmness in base metals at the London Metal Exchange (LME) ahead of housing data from the US and as Greece may request an extension of its loan agreement for six months mainly supported the upside in nickle prices at futures trade.
