EPIC RESEARCH MCX Nickel UPDATE OF 5 March 2019

Nickel trading range for the day is 923.6-964.6.

Nickel prices gained as expectations of a fourth consecutive year of supply deficit were reinforced by signs of robust demand from stainless steel mills in China.

China's factory activity contracted for a third straight month in February albeit at a slower pace, helped by improvements in domestic manufacturing.

The global nickel market was mostly balanced in December compared to a deficit of 5,800 tonnes in November but 2018 showed a wider shortfall.

Warehouse stock for Nickel at LME was at 196542mt that is down by -240mt.


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