The Multi Commodity Exchange Clearing Corporation Limited (MCX) on May 27, 2026, notified regarding the Procedure for deposit and storage of Nickel Cathodes Contracts at MCXCCL Accredited Warehouses.
The following has been stated:
• It has revised the procedure and packing norms for the deposit of Nickel Cathodes at MCXCCL Accredited Warehouses (MAWs), superseding the earlier circular issued in November 2020. The revised norms introduce stricter packaging, sealing, and verification requirements for both cut and full plate nickel cathodes. Cut cathodes shall now be packed in heavy-duty steel drums with clear manufacturer markings, batch details, and tamper-evident security seals such as PVC/HDPE anchor locks or numbered security seals. The drums are also required to be palletized and secured with high-tensile strapping.
• For full plate cathodes, warehouses must mandatorily verify the actual bundle weight using warehouse weigh scales. The lower of the actual weight or the packing list weight will be considered for warehouse receipt creation. Bundles showing weight variation beyond ±0.1% from the packing list will not be accepted, tightening the earlier tolerance standards.
• The circular also revises outbound tolerance provisions by removing the earlier quality tolerance parameter of 10 ppm and retaining only the allowable weight variation limit of ±400 gm per metric tonne.
• All clearing members and depositors have been advised to comply with the revised operational, packing, and warehouse verification requirements for nickel deliveries on the MCXCCL platform.
[Notification no. - MCX/MCXCCL/313/2026]
