NEW DELHI, Dec 27: 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, nickel prices for delivery in December rose by Rs 2.60, or 0.27 per cent to Rs 952.50 per kg in business turnover of 1,329 lots.
The metal prices for delivery in January 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. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel