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 |
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 07:00 A.M - 01:00 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 |
As MXV required |
Settlement Method |
Deliverable |
Quality Standards |
Standards are detailed below |