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New Delhi, Jan 14 (PTI) Nickel prices on Friday rose 1.78 per cent to Rs 1,650.80 per kg in the futures trade as speculators built up fresh positions amid rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the January delivery gained Rs 28.80, or 1.78 per cent, to Rs 1,650.80 per kg in a business turnover of 3,505 lots.

A rise in demand in the spot market from alloy makers supported the price rise in nickel futures, analysts said. PTI RUJ HRS hrs