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Commodity Markets

Nickel

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:

  1. Nickel finds its usage in various industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging, batteries.
  2. Among base metals, Nickel is the most volatile owing to its strong demand and tight supply.
  3. Nickel demand is derived demand based on the growth of the industrial sector. Thus, it exhibits high volatility
  4. 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.

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