Thursday 22 February 2018

EPIC RESEARCH MCX NICKEL UPDATE OF 22 FEBRUARY 2018

Nickel trading range for the day is 854.1-919.3.Nickel gained on fresh buying as strong demand from the global stainless sector, falling stocks and supply hits.Nickel ore output in the Philippines dropped 6 percent last year as several mines were under maintenance or temporarily closed due to environmental issues.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”.

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