India Nickel Scrap prices gain; Nickel Futures settle slightly up

Published: Feb 19, 2016 09:14

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Indian nickel scrap prices gained on Scrap Register Price Index as on Wednesday.

INDIA February 18 2016 3:25 PM

MUMBAI (Scrap Register): Indian nickel scrap prices gained on Scrap Register Price Index as on Wednesday, while nickel futures prices at India's Multi Commodity Exchange settled slightly up by 0.75%.

According to the Scrap Register Price Index, the major nickel scrap commodities like nickel indco Canada (4X24), nickel Indco Canada (4X4), nickel plate(4x24), Nickel plate(9x9), nickel Russian (4X24), nickel Russian(4x4), nickel Russian(9x9) traded up on Wednesday.

In futures, the most active February nickel contract on Multi Commodity Exchange settled higher by 0.75% to Rs. 576.40 per kilogram on Wednesday from previous close of Rs. 572.10 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 579.80 per kilogram and an intra-day low of Rs. 565.40 per kilogram during Wednesday.

Nickel futures prices at India's Multi Commodity Exchange edged up on Wednesday but overall sentiments remain weak for Nickel prices and can seen drop in the prices as base metals retreated amid concerns that excessive credit growth is increasing risks in China, the biggest consumer of raw materials.

The expansion in China’s debt relative to gross domestic product could pressure the country’s credit rating, Standard & Poor’s said on Tuesday, less than a week after the cost to insure Chinese bonds against default rose to a four-year high.

Indian nickel scrap prices

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