EPIC RESEARCH MCX Nickel UPDATE OF 21 January 2019

Posted by Commodity Updates by Epic Research on 11:44:00 with No comments

Nickel trading range for the day is 817.7-853.3.

Nickel prices gained amid falling stockpiles and a tightening of time spreads suggested an undersupplied market.

Nickel stocks in LME-registered warehouses at around 200,000 tonnes are down from more than 360,000 tonnes at the start of 2018 and at their lowest level since mid-2013.

The discount of cash nickel compared to three-month metal rose to $67 from $9, which was the smallest discount in nearly two years.

Warehouse stock for Nickel at LME was at 201228mt that is down by -156mt.

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