EPIC RESEARCH MCX NICKEL UPDATE OF 23 MARCH 2017

Nickel trading range for the day is 643.8-669.4. Nickel dropped tracking LME prices falling 1.4 percent to end at $10,020, pulled down by losses in Chinese steel futures. The INSG estimates that global nickel market was in a small deficit of 1,130 tonnes in January 2017 after recording a deficit of 41,520 tonnes in the whole of 2016. The INSG expects a deficit of 66,000 tonnes this year amid growing demand from the stainless steel sector.

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