EPIC RESEARCH MCX Nickel UPDATE OF 1 January 2019

Nickel trading range for the day is 725.8-770.2.

Nickel prices remained under pressure on worries over slowing economic growth in China.

China imported 28,400 mt of nickel unwrought, not alloyed in November, up 21.8% month on month and 9.4% year on year.

November’s nickel imports came in higher than October’s as growing stainless steel output, low domestic stocks and no signs of supply growth in 2018.

Warehouse stock for Nickel at LME was at 207330mt that is down by -594mt.

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