EPIC RESEARCH MCX Nickel UPDATE OF 29 October 2018

Posted by Commodity Updates by Epic Research on 11:52:00 with No comments

Nickel trading range for the day is 843.4-900.4.

* Nickel dropped as pressure after LME nickel fell more than 2 percent to its weakest since late December as a strong US dollar index and broadly risk-averse investors.

* Nickel inventories in the Shanghai bonded areas rebounded 1,000 mt, or 2.9% from last Friday to stand at 35,000 mt as of October 26, data showed.

* Stocks across all Chinese ports grew 210,000 wmt from Oct 19 to 14.13 million wmt as of Friday Oct 26.

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