Many regular traders do not commonly understand commodity trading and commodity futures. Though the origin of commodity trading has been traced to ancient civilisations, it still maintains its popularity. Just like the stock market, the commodity market also offers full of opportunities. Buyers and sellers exchange commodities here. In order to clear the base of the subject, we create separate sections of commodities. The broad section of commodities is Bullion, Base Metal, and Energy. Previously, we’ve discussed Bullion metals. Now, we have entered the base metal section, where you will get each detail regarding it. Here, in this article, along with data, we will provide a live Nickel Price Chart.
How to Use These Widgets
As the article will cover Nickel, before proceeding further, we need to have some idea regarding base metal. The Base Metal commodity market is one of the oldest and most active prevailing markets in human history. You can easily find base metals like Copper, Lead, Nickel, and Zinc. Industrial as well as infrastructure are the main fields of using base metals. India is one of the largest users and producers of base metals.
Indian Commodity Exchange
Just like the national stock exchange, SEBI has allowed commodity exchanges for commodity trading. Among the regional and national commodity exchanges, there are few active exchanges in India. Multi Commodity Exchange (MCX), National Board of Trade (NBOT), National Multi Commodity Exchange (NMCE). National Commodity and Derivatives Exchange Ltd (NCDEX). The forward market commission regulates these exchanges. Two types of markets, over-the-counter and exchange, can trade the commodity just as they do equity. In the OTC market, direct exchange happens between buyers and sellers. Though most of the trades take place through the exchange market, there are still some traders who prefer OTC trading.
Nickel, a Base Metal
Nickel or Ni is a metal discovered by Axel Fredrik Cronstedt in the year 1751. Since ancient times, people have used it, but they were not aware of it fully until 1751. Archaeologists have found artefacts containing Nickel that date back to 5000 B.C. It has been an important component of coins since the early 19th century. Find below the Nickel price, chart and technical analysis.
Usage of Nickel
1) Stainless Steel
2) Coinage
3) Corrosion-resistant alloys
4) Nickel plating
5) Vaults
6) Nickel-Cadmium batteries
Nickel is a silvery-white metal. Firstly, it is a fairly good conductor of heat and electricity. Secondly, it is quite ductile and can be beaten into thin sheets. Thirdly, it exhibits a good shine or glow, and Nickel is harder than iron. Fourthly, nickel also has a ferromagnetic nature. Lastly, nickel is highly resistant to corrosion and is used for electroplating and to make Nickel alloys.
Nickel in the Indian Commodity Market
Traders widely trade Nickel under its base metal category in the MCX exchanges. It is a very popular trading instrument among commodity traders due to its huge volatility and price range. Both Nickel and Nickel Mini variations are available in MCX for trading.
Intraday traders play for as high as 10-20 points in the nickel price movement. The trading unit of Nickel is 250 kgs. That means the lot size of Nickel is 250, and that of Nickel Mini is 100. If a trader can pull out 10 points a day from Nickel, he can easily make Rs. 2500 per lot per trade.
Like other commodities, Nickel should also be traded in morning sessions between 10 AM and 1 PM in MCX and between 6 PM and 9 PM in the evening. Zerodha needs an NRML margin of 10000 (approx) and an MIS margin of 5000 (approx) for trading Nickel.
Final Thoughts about Nickel Price
Overall, investors, manufacturers and consumers face significant implications from nickel price fluctuations due to their connections with currency changes, increasing global economic instability and shifts in industrial metal demands. Although there is no crystal ball to predict what may happen on short or long-term scales, keeping a watchful eye on nickel prices is essential in order to stay informed of future events that will shape markets worldwide.