EPIC RESEARCH MCX NICKEL UPDATE OF 22 MAY 2018

Nickel trading range for the day is 987.7-1008.5. Nickel remained supported with prices underpinned as the chance of a U.S.-China trade war appeared to fade. China will shut more outdated steel plants and lower its crude steel production capacity to below 1 billion mt by 2025. Supplies were short in the global nickel market in the first quarter of the year, as output fell short of demand by 32,000 mt, according to World Bureau of Metal Statistics.

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