Home / Metal News / India Nickel Scrap prices fall tracking weakness from Nickel Futures

India Nickel Scrap prices fall tracking weakness from Nickel Futures

iconMar 14, 2017 10:07
India's major nickel scrap prices fell on the Scrap Register Price Index as on Friday, while nickel futures prices at India's Multi Commodity Exchange settled slightly down.

INDIA March 13 2017 4:14 PM

MUMBAI (Scrap Register): India's major nickel scrap prices fell on the Scrap Register Price Index as on Friday, while nickel futures prices at India's Multi Commodity Exchange settled slightly down.

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) traded down on Friday.

In futures, the most active March nickel contract on Multi Commodity Exchange dropped by 2.58 percent to Rs. 660.50 per kilogram on Friday from previous close of Rs. 678.00 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 679 per kilogram and an intra-day low of Rs. 657.90 per kilogram during Friday.

Following two consecutive hearings last week, the Philippines’ mining industry expressed its confidence that the Commission on Appointments (CA) will reject Gina Lopez as the Environment secretary, emphasizing that she was unable to persuade the members of the committee. 

Lopez is among just a few of President Rodrigo Duterte’s appointees yet to be confirmed by lawmakers. LME Nickel prices fell 10% as bears believe there will be a rejection.

Nickel Scrap prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news