Nickel (NI) is a silver - white metal with a golden tinge. Nickel is used in various industries such as engineering, electrical, infrastructure, automobile, packaging, etc. Nickel is a very volatile commodity because of its high demand and low supply.
Factors Affecting Nickel:
- Nickel finds its usage in various industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging, batteries.
- Among base metals, Nickel is the most volatile owing to its strong demand and tight supply.
- Nickel demand is derived demand based on the growth of the industrial sector. Thus, it exhibits high volatility
- About 65% of nickel is used in the manufacture of stainless steels, and 20% in other steel and non-ferrous including "super" alloys, often for highly specialized industrial, aerospace and military applications.
Nickel Price Movement:
Demand and Contract Specification:
- Major producers of Nickel are Russia, followed by Australia, Canada, New Caledonia and Indonesia, which represents over 65% of total world production.
- Nickel market in India is of total import-dependent, with growth in the stainless steel sector Nickel import demand is expected to increase in the coming years.
- Symbol: NICKEL
- Trading unit: 250kg
- Maximum order size: 24 MT
- Tick size: 10 paise
Nickel trades on the MCX platform.
The timing of the exchange is Monday to Friday: 09:00 A.M. to 11:30 P.M.