INDIA July 04 2017 5:32 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 slightly higher as the data showed a recovery in Chinese manufacturing activities.
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The major nickel scrap commodities like Nickel Plate (4x24), Nickel Plate (9x9) and Nickel Russian (4x4) gained on the Scrap Register Price Index as on Monday.
In futures, the most active June nickel contract on Multi Commodity Exchange increased slightly by 0.02 percent to Rs. 606.90 per kilogram on Monday from previous close of 607.00 per kilogram. The MXC nickel prices touched an intra-day high of Rs. 612.60 per kilogram and an intra-day low of Rs. 604.50 per kilogram during Monday.
China imported 263,851 tons of nickel ore from Indonesia in May, according to China Customs, the first appearance after Indonesia’s ore export ban in early 2014. Only two companies in Indonesia have been permitted to export nickel ore by the government so far, namely Antam and Zhenshi Group’s Fajar.