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NICKEL LME
CONTRACT SPECIFICATION
| Trading Screen Product Name | LME Nickel | |
| Commodity Code | LNIZ / NID | |
| Contract Size | 6 tons / lot (± 2%) | |
| Price Quotation | USD / ton | |
| Contract type | 3-month | |
| Contract Series | Daily | |
| Trading Hours | Monday - Friday 08:00 A.M- 02:00 A.M (the next day) |
|
| Minimum Price Fluctuation | 5 USD / ton | |
| Prompt date | Out to 3 months | |
| Last Trading Day | Up until the close of the first Ring the day before the prompt date | |
| Margin | As MXV required | |
| Position Limit | As MXV required | |
| Price Limit |
|
|
| Settlement Method | Deliverable | |
| Quality Standards | Standards are detailed below |
QUALITY STANDARDS
In accordance with the regulations of Nickel traded on London Metals Exchange (LME).
The Nickel delivered under this contract must be:
1. Primary Nickel and conform to one of the following Standards:
a. ASTM specification B39-79 (2013) – min 99.80% purity
b. GB/T 6516-2010 - Ni9990 grade
2. In the shape of cathodes (full plate or cut), briquettes or pellets; and
3. Of brands listed in the LME approved list.
Quality: ASTM Standard Specification for Nickel B39-79 (2013)
|
Element |
Composition (%) |
|
|
Ni |
99.80 |
Minimum |
|
Co |
0.15 |
Maximum |
|
Cu |
0.02 |
|
|
C |
0.03 |
|
|
Fe |
0.02 |
|
|
S |
0.01 |
|
|
P |
0.005 |
Less than |
|
Mg |
0.005 |
|
|
Si |
0.005 |
|
|
As |
0.005 |
|
|
Pb |
0.005 |
|
|
Sb |
0.005 |
|
|
Bi |
0.005 |
|
|
Sn |
0.005 |
|
|
Zn |
0.005 |
|
Quality: GB/T 6516-2010 – Ni9990 grade
|
Element |
Composition (%) |
|
|
Ni + Co |
99.90 |
Minimum |
|
Co |
0.08 |
Maximum |
|
C |
0.01 |
|
|
Si |
0.002 |
|
|
P |
0.001 |
|
|
S |
0.001 |
|
|
Fe |
0.02 |
|
|
Cu |
0.02 |
|
|
Zn |
0.002 |
|
|
As |
0.001 |
|
|
Cd |
0.0008 |
|
|
Sn |
0.0008 |
|
|
Sb |
0.0008 |
|
|
Pb |
0.0015 |
|
|
Bi |
0.0008 |
|
|
Mg |
0.002 |
|
Product infomation
Introduce
Nickel (also known as nickel), nomenclature according to the National Standard TCVN: Nickel[4] is a metallic chemical element, symbol is Ni and the ordinal number in the periodic table is 28.
Characteristics
Nickel is a silvery-white metal with a glossy surface. Nickel is in the ferromagnetic group. Mechanical properties: hard, malleable and malleable, easy to spin. In nature, nickel occurs in compounds with sulfur in millerite, with arsenic in nicolite, and with arsenic and sulfur in nickel ores.
Under normal conditions, it is stable in air and inert to oxygen, so it is often used in small coins, metal plates, brass, etc., for chemical devices and in some alloys such as German silver. (German silver). Nickel is magnetic and it is often used in conjunction with cobalt, both of which are found in meteoric iron. It is the principal valuable component of the alloys it is made of.
Nickel is one of the five ferromagnetic elements.
The common oxidation number of nickel is +2, although 0, +1 and +3 of nickel complexes have also been observed.
Application
Applications of nickel include:
- Stainless steel and corrosion resistant alloys.
- Alnico alloy used as magnet.
- NiFe - Permalloy alloy is used as a soft magnetic material.
- Monel metal is a corrosion-resistant copper-nickel alloy, used as propellers for boats and pumps in the chemical industry.
- Rechargeable batteries, such as nickel-metal hydride (NiMH) and nickel-cadmium (NiCd) batteries.
Coin. - Used as an electrode.
- In a metal chemical crucible in the laboratory.
- As a catalyst for the hydrogenation (saturation) of vegetable oils.
Manufacturing
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