INDIA February 28 2017 6:06 PM
MUMBAI (Scrap Register): India's major nickel scrap prices gained on the Scrap Register Price Index as on Monday, while nickel futures prices at India's Multi Commodity Exchange settled higher tracking gains from LME Nickel, which finished up 0.9 percent at $11,150 a ton, the highest since December 19.
According to the Scrap Register Price Index, the major nickel scrap commodities like nickel cathode, nickel plate(4x24), nickel plate(9x9) and nickel russian(4x4) showed an up trend during Monday.
In futures, the most active February nickel contract on Multi Commodity Exchange gained by 1.44 percent to Rs. 734.10 per kilogram on Monday from previous close of Rs. 723.70 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 735.70 per kilogram and an intra-day low of Rs. 722.60 per kilogram during Monday.
The Philippines' environment minister said on Monday that she stands by her decision to shut more than half the country's operating mines ahead of a meeting to review the move. Looking ahead to events on Tuesday brings revised U.S. growth figures for the last quarter of 2016.
