Nickel trading range for the day is 551.4-588.2. Nickel prices dropped on expectations of rising supplies and weak demand from stainless steel mills.According to our latest estimates, the LME speculative short has increased to 16.3 percent of open interest, the largest short seen since late January 2016.The nickel market which had moved into deficit between supply and demand last year, is likely to move into small surplus during the remainder of 2017.
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