EPIC RESEARCH MCX Nickel UPDATE OF 25 January 2019

Posted by Commodity Updates by Epic Research on 11:49:00 with No comments

Nickel trading range for the day is 815.7-840.7.

Nickel recovered on short covering after prices dropped pressured by a slump in the US pending home sales and market concerns over the global economy.

The global nickel market deficit narrowed to 4,900 tonnes last November from the previous month's revised deficit of 10,600 tonnes, the INSG said.

The ECB left interest rates on hold as expected, as a sharp slowdown in euro area growth fueled expectations that any policy normalization could be delayed.

Warehouse stock for Nickel at LME was at 203088mt that is up by 786mt.

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