EPIC RESEARCH MCX Nickel UPDATE OF 6 February 2019

Posted by Commodity Updates by Epic Research on 12:29:00 with No comments

Nickel trading range for the day is 905.9-965.5.

Nickel dropped on profit booking after prices gained supported by easing U.S.-China trade tensions.

Vale Indonesia produced 74,806 tonnes of nickel contained in matte in 2018, down 3 percent from the 76,807 tonnes it produced in 2017.

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.

Warehouse stock for Nickel at LME was at 200754mt that is down by -336mt.

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