Nickel Futures

Nickel Futures Live Chart (CFDs)

About Nickel Metal

Nickel and its alloys find extensive used in our day to day lives. Be it kitchenware, mobile phones, medical equipment, building, power generation, or even transport – Nickel is almost always used, either directly or as an alloy. The largest application of Nickel has to be in the manufacturing of stainless steel. In fact, about 65% of nickel produced is used towards the manufacturing of stainless steel.

Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile. Pure nickel, powdered to maximize the reactive surface area, shows a significant chemical activity, but larger pieces are slow to react with air under standard conditions because an oxide layer forms on the surface and prevents further corrosion (passivation). Even so, pure native nickel is found in Earth’s crust only in tiny amounts, usually in ultramafic rocks, and in the interiors of larger nickel-iron meteorites that were not exposed to oxygen when outside Earth’s atmosphere.

About Nickel Futures

Nickel Futures are available for trading in The London Metal Exchange (LME). The standard contact weights 6 tonnes. Nickel futures contract is a contract between two parties where both parties agree to buy and sell a particular asset of specific quantity and at a predetermined price, at a specified date in future. Nickel futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of nickel at a predetermined price on future delivery date.

LME Nickel Futures Contract Specification

Product Code NI
Price Quotation US dollars per tonne
Minimum Price Fluctuation
Outright Carries
Ring  $5.00  $0.01
LMEselect  $5.00  $0.01
Inter-office  $0.01  $0.01
Settlement Method Physical
Termination Of Trading Up until the close of the first Ring the day before the prompt date
Trade Unit / Lot Size 6 tonnes
Trading Hours 01:00 to 19:00 hours, London Time
Prompt dates  
 

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