EPIC RESEARCH MCX Nickel UPDATE OF 13 August 2018

Nickel trading range for the day is 929.6-969.6.

Nickel dropped as investors bet global trade tensions and a robust US economy would continue to support the dollar.

Nickel production rose 4.7% on the month and stood at 12,400 mt in July, this is down 9.7% year on year.

Discounts of high-grade nickel pig iron (NPI) to refined nickel prices are expected to widen this month due to an increasing supply of the former.

Warehouse stock for Nickel at LME was at 249546mt that is down by -174mt.

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