Commodities
Prices as of 02 Nov, 9:25 AM
Nickel
| Commodity | 1D Chart | Price | 1D Change | Volume |
|---|---|---|---|---|
| ₹1,477.00 | 25.50 (+1.76%) | 48 |
Frequently Asked Questions
MCX Nickel is quoted in rupees per kilogram and follows international nickel prices.
Most nickel is used to make stainless steel. It is also a key material in lithium-ion batteries for electric vehicles.
Supply is concentrated in a few countries, especially Indonesia, and expectations for EV demand can shift quickly. Both factors lead to sharp price swings.
In March 2022, nickel prices on the London Metal Exchange more than doubled within a very short period. The LME suspended nickel trading as a result. The episode showed how extreme nickel volatility can get.
The key drivers are stainless steel demand, EV battery demand, Indonesian supply and export policies, global inventory levels, and the USD-INR rate.
Nickel contracts on MCX are delivery-based. Most traders exit before the delivery period, in line with their broker’s policy.
