Nickel trading tips for MCX

chethan

Recently started looking at nickel futures on MCX. Seems like not many people trade it. What moves nickel prices and what should I watch while trading nickel? Any tips from experienced traders?

chethan

Reply by: IndustrialMetals_Expert
Nickel is mainly used in stainless steel production and EV batteries. So watch stainless steel demand from China and also EV industry news. Indonesia is major producer so any policy changes there affect prices. Nickel is quite volatile and has low volume on MCX so trade carefully. Also nickel prices on LME are more relevant, MCX just follows.

chethan

Reply by: MetalsTrader_10yrs
Honestly nickel is not worth trading on MCX unless you are from stainless steel industry and hedging. Liquidity is very poor, sometimes entire day volume is less than 50 lots. Your order itself can move prices. Better opportunities available in gold, silver, copper where volumes are high and price discovery is better.