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Nickel became favoured when it was discovered that Iron and Steel could be strengthened by mixing it with Nickel. Nickel is a solid, lustrous, silvery-white metallic element that is strong, ductile, magnetic and resistant to corrosion. It also has a high melting point and catalytic properties. The global production of Nickel is around 2.25 metric tonnes annually. Philippines is the largest producer of Nickel followed by Russia , Canada and Australia while India primarily imports Nickel.
The symbol for Nickel is “ Ni” and is quoted both against the USD and the INR.
Nickel is mainly primarily used with Stainless Steel, Electronics as Nickel Alloys, Electro-plating, catalysts for chemical reactions and rechargeable batteries.
Eforex India quotes prices of Nickel as per the London Metal Exchange (LME) against the USD and can be used for benchmarking and hedging purposes. We also give API of the prices of all Metals which can be integrated to your software for pricing and valuation. Exporters, importers and traders needs to manage their hedging by proper Risk management techniques and value it Marked to Market (MTM) on a daily basis to manage their portfolio.
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