EPIC RESEARCH MCX NICKEL UPDATE OF 01 FEBRUARY 2018

Nickel trading range for the day is 850.4-871.4. Nickel prices gained as low stock levels and disrupted supply is leading to tightness in the market. Funds have raised their bets on prices rising, with LME net long nickel positions rising to 47,708 lots on Jan. 26, the highest since Jan. 2017. On-warrant LME inventories of nickel, those not earmarked for delivery, fell to their lowest level in 2018 at 250,920 tonnes.

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