The Nickel Sulphate Singapore Futures contract represents a pioneering effort in the financialization of battery metals, particularly nickel sulphate which is critical for electric vehicle (EV) battery production.

This futures contract is the world's first for nickel sulphate and aims at providing a transparent, efficient platform for price discovery and risk management in the nickel sulphate market. Unlike traditional nickel contracts that focus on Class 1 refined nickel, this contract caters directly to the evolving needs of the EV battery supply chain by facilitating physical delivery from seller to buyer, thereby bypassing the conventional warehouse storage system.

The introduction of this contract is a response to the anticipated surge in demand for nickel sulphate, expected to grow at a compound annual growth rate of 22% from 2020 to 2030.

 

Rule Chapter	1100
Contract	Nickel Sulphate Singapore Futures
Product ID/Commodity Code	NSS
Contract Unit and Delivery Unit	5 tonnes nickel contained
Unit of Measure	MT
Trading Hours (All time Singapore)	Monday through Friday Pre-open session: 0930 hrs to 1000 hrs Normal Market Session: 1000 hrs to 2400 hrs
Minimum Price Movement	1 USD per MT
Listed Contracts	12 consecutive months
Settlement Method	Physical Delivery
Termination of Trading/Last Trading Day	Two (2) Business Days prior to Delivery Date
Delivery Dates	Third Wednesday of the month that is a Business Day and is not preceded by a US bank holiday, else it will be the next Business Day that is not preceded by a US bank holiday.
Reportable Level	25 Lots
Position Limits (Spot Month)	100 Lots
Position Accountability Levels (any/all month)	500 Lots
Price Limits	Fixed price limits which will be published via circulars
Block Trade Minimum	5 Lots
Final Settlement Price	Price determined by the Exchange on the Last Trading Day. The Final Settlement Price is the basis for delivery.
Settlement Price Period	Daily Settlement Price: 1325-1330 hrs LDN Final Settlement Price: 1325-1330 hrs LDN