What are the contract specifications for nickel trading on MCX?
Nickel is a popular metal traded on the Multi Commodity Exchange of India (MCX) due to its versatile applications in various industries. Here are the contract specifications:
Contract Symbol and Trading Unit
The contract symbol for nickel trading on MCX is NICKEL, and the trading unit is 1 metric tonne (MT).
Price Quote and Tick Size
The price quote for nickel contracts on MCX is in Indian Rupees (INR) per kilogram. The tick size represents the minimum price movement, which is INR 0.50 per kilogram.
Delivery Centers
The delivery of nickel contracts on MCX can be made at designated centers approved by the exchange. These centers include Delhi, Mumbai, Chennai, and Kolkata.
Delivery Quality Standards
The MCX has established quality standards for nickel deliveries, ensuring the metal’s purity and compliance with trading regulations. The specifications include minimum nickel content, maximum impurities, and other quality parameters.
Contract Expiry
Nickel contracts on MCX have monthly expiry. The last trading day is normally two days before the last business day of the expiry month.
In conclusion, nickel trading on MCX follows specific contract specifications regarding the trading unit, price quote, tick size, delivery centers, delivery quality standards, and contract expiry. Traders and investors need to be aware of these specifications when participating in nickel trading. If you have any further questions or would like more detailed information, feel free to reach out to our team via WhatsApp.
By Astrobulls research pvt ltd