Monday, 6 August 2018

EPIC RESEARCH MCX NICKEL UPDATE OF 6 AUGUST 2018

11:42:00

Nickel trading range for the day is 889.7-946.9. Nickel gained recovering from lows on short covering as ow inventories and robust demand for stainless steel buoyed prices. Chinese authorities are mulling details of production cuts in the steel industry across the smog-prone Beijing-Tianjin-Hebei region, during the upcoming winter season. Nickel stocks in Shanghai bonded warehouses grew 6% from a week ago to 61,000 mt. Warehouse stock for Nickel at LME was at 253278mt that is down by -792mt.

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