EPIC RESEARCH MCX NICKEL UPDATE OF 18 June 2018
Posted by Commodity Updates by Epic Research on 13:53:00 with No comments
Nickel trading range for the day is 1015.6-1051.8.
Nickel ended with small losses on concerns about slowing growth in China and the impact of U.S. trade tariffs.
Japan's Sumitomo Metal Mining, expects a global nickel market deficit to widen to 88,000 tonnes this year, from 72,000 tonnes last year.
Global demand for nickel is seen increasing by 7.3 percent in 2018 from last year to 2.298 million tonnes, while supply rises 6.8 percent to 2.210 million tonnes.
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