EPIC RESEARCH MCX NICKEL UPDATE OF 2 MAY 2016

Posted by Farhan Khan on 11:57:00 with No comments
Nickel trading range for the day is 612.2-647.6.
Nickel prices gained as prices seen supported after a worse-than-expected US GDP reading this afternoon weighed on the dollar, supporting the prices.           
The INSG has projected a 49,000-tonne deficit in the nickel market in 2016, an increase from its October forecast of a 23,000-tonne deficit for this year.          
Nickel weekly stocks at Shanghai exchange came up by 3758 tonnes.

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