INDIA April 11 2017 5:47 PM
MUMBAI (Scrap Register): India major nickel scrap prices stayed stable on the Scrap Register Price Index as on Monday, while nickel futures prices at India's Multi Commodity Exchange settled slightly down at Rs. 652.00 per kilogram.
According to the Scrap Register Price Index, the major nickel scrap commodities like nickel cathode, nickel indco canada (4x24), nickel indco canada (4x4) , nickel plate(4x24), nickel plate(9x9), nickel russian (4x24), nickel russian(4x4) and nickel russian(9x9) traded lower on Monday.
In futures, the most active March nickel contract on Multi Commodity Exchange settled down by 0.73 percent to Rs. 652.00 per kilogram on Monday from previous close of Rs. 656.80 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 658.90 per kilogram and an intra-day low of Rs. 650.00 per kilogram during Monday.
The two biggest nickel miners in the Philippines, Nickel Asia Corp and Global Ferronickel Holdings, said prices for the metal would be robust this year due to growing demand from China.
