Wednesday, 21 February 2018

EPIC RESEARCH MCX NICKEL UPDATE OF 21 FEBRUARY 2018

Nickel trading range for the day is 856.4-904.4. Nickel prices gained on short covering with trading volumes in Asia staying lean.Brazil’s Vale kick-started this rally with a Dec 6 announcement it was cutting production by 15% in 2018 to “preserve its nickel optionality”. LME nickel stocks are “noisy” with much two-way traffic but the net outcome last year was a minimal decline of 5,454 tonnes.

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