NEW DELHI, Dec 14: Nickel prices rose by Rs 3.50 to Rs 972.70 per kg in futures trade today as speculators enlarged their positions, tracking a firm trend in base metals overseas.
At the Multi Commodity Exchange, nickel prices for delivery in January rose by Rs 3.50, or 0.36 per cent to Rs 972.70 per kg in business turnover of 152 lots.
Similarly, the metal prices for delivery in the December traded higher by Rs 3.30, or 0.34 per cent, to Rs 966.20 per kg in 1,328 lots.
Market analysts said fresh positions created by speculators supported by a firming trend overseas after data showed China’s manufacturing may expand at a faster pace, adding to signs that demand in the world’s top metals buyer is recovering, influenced nickel futures here.
Besides, rising demand at spot markets particularly from alloy-makers, also influenced prices, they said. (PTI)
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