Nickel trading range for the day is 936.4-1002.6.
Nickel gained as sentiment improved as downstream consumption for stainless steel rose in the high season and as both Shanghai and LME nickel inventories declined.
China’s stainless steel output stood at 2.05, 1.88 and 1.97 million mt in January, February and March, while inventories were 2.89, 3.95, and 4.09 million mt, respectively.
China’s property prices are expected to cool steadily this year amid persistent curbs on buyers and tighter monetary conditions.
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