EPIC RESEARCH MCX Nickel UPDATE OF 5 November 2018

Posted by Commodity Updates by Epic Research on 11:39:00 with No comments

Nickel trading range for the day is 854-889.2.

* Nickel prices gained after the Chinese authorities pledged preemptive and prompt actions on the economy.

* Japanese trading house Sumitomo Corp lowered its forecast for nickel output at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in the year to March 31.

* Nickel inventories in the Shanghai bonded areas shrank 3,500 mt, or 10% from last Friday to stand at 31,500 mt as of November 2, data showed.

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