EPIC RESEARCH MCX Nickel UPDATE OF 24 December 2018

Posted by Commodity Updates by Epic Research on 11:58:00 with No comments

Nickel trading range for the day is 750-769.4.

* Nickel dropped as concerns that weakening economic growth will curtail demand

* Despite expanded production cuts in the second half of December, downstream stainless steel plants will increase stockpiles of raw materials.

* Nickel inventories in the Shanghai bonded areas fell 1,000 mt, or 3.4% from a week ago to stand at 28,000 mt, data showed.

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