EPIC RESEARCH MCX Nickel UPDATE OF 28 January 2019

Posted by Commodity Updates by Epic Research on 11:29:00 with No comments

Nickel trading range for the day is 826.9-854.1.

Nickel prices ended with gains on the back of restocking demand ahead of a week-long national holiday.

Prices also seen supported amid falling stockpiles and a tightening of time spreads suggested an undersupplied market.

Stockpiles in exchange warehouses are near multi-year lows and the price of nickel surged compared with contracts for later delivery.

Warehouse stock for Nickel at LME was at 202776mt that is down by -312mt.

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