EPIC RESEARCH MCX Nickel UPDATE OF 18 January 2019

Posted by Commodity Updates by Epic Research on 11:01:00 with No comments

Nickel trading range for the day is 806.4-835.4.

* Nickel dropped on profit booking after prices gained amid falling stockpiles and a tightening of time spreads suggested an undersupplied market.

* Stockpiles in exchange warehouses are near multi-year lows and the price of cash nickel surged, suggesting a shortage of nearby material.

* The nickel market will likely be fairly balanced in 2019 after a small deficit of 40,000 tonnes in 2018.

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