EPIC RESEARCH MCX Nickel UPDATE OF 4 January 2019

Nickel trading range for the day is 741.7-776.3.

* Nickel prices recovered on short covering as support seen after inventories at LME warehouses shrank 300 mt to 206,100 mt.

* A global nickel market deficit will nearly halve to 49,000 tonnes in 2019 from 93,000 tonnes on higher output of primary metals.

* The US ISM manufacturing activity index fell to 54.1 in December, above the 50 mark that separates growth from contraction but well shy of the 59.3 in November.


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