Nickel was stationary in the mid morning trades on MCX. The prices have been stable on account of closing of international markets. Nickel markets were in surplus of 13000 tons in Jan-Oct 2011 as compared to a surplus of 100 tons in the full year 2010. The production of refined Nickel was 1.51 million tons in Jan-December 2010.
From investor point of view Nickel will go down with losses of 25.5% in 2011. The LME three month forward prices that were in the region of $ 25150 per ton in January 2011 have come down to $ 18740 per ton in December. MCX Nickel that now stands at Rs. 987 per kg in December has been discounted by 12% from levels of Rs. 1124 per kg in January.
