EPIC RESEARCH MCX NICKEL UPDATE OF 01 June 2018

Nickel trading range for the day is 1007.4-1047.2.

Nickel gained spurred by a survey showing that the manufacturing sector in China grew at the quickest pace in eight months in May.

China’s firm economy bodes well for steel demand has been strong in the past months as evidenced by a sustained fall in steel inventories at traders.

The positive impact of China’s upbeat manufacturing data on risky assets could be fleeting amid continuing trade tensions between Washington and Beijing.

Warehouse stock for Nickel at LME was at 290604mt that is down by -1494mt.
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