EPIC RESEARCH MCX Nickel UPDATE OF 1 February 2019

Posted by Commodity Updates by Epic Research on 14:36:00 with No comments

Nickel trading range for the day is 870-895.8.
* Nickel prices gained as support seen due to falling stocks and concerns that Brazil's Vale could cut some of its production.
* Soaring nickel output in China and Indonesia to record levels this year is expected to weigh on prices.
* At 202,032 tonnes inventories of nickel in LME-registered warehouses are down from around 370,000 tonnes at the start of 2018 and near the lowest since 2013.

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