EPIC RESEARCH MCX Nickel UPDATE OF 22 January 2019

Posted by Commodity Updates by Epic Research on 11:28:00 with No comments

Nickel trading range for the day is 828.7-848.7.

Nickel settled flat after update that China's economic growth cooled slightly in the fourth quarter from a year earlier as expected.

Stockpiles in exchange warehouses are near multi-year lows and the price surged compared with contracts for later delivery, suggesting a shortage of nearby material.

China said that its economy expanded 6.6% in 2018, meeting expectations but slower than 6.8% in 2017.

Warehouse stock for Nickel at LME was at 200466mt that is down by -762mt.

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