India Nickel Scrap prices decline; Nickel Futures down by 1.12 percent

MUMBAI (Scrap Register): India's major nickel scrap prices declined on the Scrap Register Price Index as on Monday, while nickel futures prices at India's Multi Commodity Exchange settled down by 1.12 percent to Rs. 637.10 per kilogram.
According to the Scrap Register Price Index, the major nickel scrap commodities like Nickel Plate(4x24), Nickel Plate(9x9) and Nickel Russian(4x4) traded down on Monday.
In futures, the most active March nickel contract on Multi Commodity Exchange slightly down by 1.12 percent to Rs. 637.10 per kilogram on Monday from previous close of Rs. 644.30 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 641.60 per kilogram and an intra-day low of Rs. 625.60 per kilogram during Monday.
MCX Nickel settled down tracking weakness from nickel prices at London Metal Exchange, which sank 2.2 percent extended selling from last week when the Philippines said it would allow miners who had been ordered shut on environmental concerns to export stockpiled material.