EPIC RESEARCH MCX NICKEL UPDATE OF 19 AUGUST 2016

Nickel trading range for the day is 678.7-700.9. Nickel gains as prices seen support as supply issues, demand for nickel has been relatively strong thanks to better-than-expected demand. Global nickel market swung into a deficit of 42,600 tons during the May-June period this year against the 45kt surplus in 2015. Producers led by Jinchuan pledged to reduce supply by at least 20 percent in 2016, and output in China is expected to drop to 550,000 tons this year. 
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