Multi Commodity Exchange of India announced the launch of Nickel futures contract effective 18 August 2025. The contract will contribute to efficient price discovery and encourage greater value chain participation across the country.
Nickel is a critical industrial metal and a key raw material in the stainless steel making, electroplating, EV batteries and other engineering industries. As India is dependent on Nickel imports, the Nickel consuming industries are exposed to price volatility and supply disruptions, adding significant pressure on their business margins.
The launch of the Nickel futures contract will provide a robust mechanism for these industries to help them manage their price risks, making them more competitive. As the contract is an INR denominated one, it will help the participants to not only hedge their commodity price risk but also their currency risk. In addition to physical market players, the contract will provide opportunities to financial participants and investors as an asset class for portfolio diversification and liquidity.
The trading unit and the delivery unit will be 250 kgs and 1500 kgs respectively, effective from the September 2025 expiry contract onwards. The last trading day will be the third Wednesday of the expiry month, or the preceding working day in case of a holiday. Thane will be the designated delivery centre and the delivery period will be the last 3 working days of the contract month. The Exchange will accept only LME approved Primary Nickel cathodes with minimum purity of 99.80% as good delivery.
The tick size will be ₹0.10 per kg, daily price limits of 4%, and margins set at a minimum of 10% or SPAN, whichever is higher.