EPIC RESEARCH MCX NICKEL UPDATE OF 7 AUGUST 2018

Nickel trading range for the day is 902.8-963. Nickel gained tracking rise in LME prices as shrinking LME and SHFE inventory gave some support to nickel prices. Nickel ore inventory across Chinese ports increased by 490,000 wmt from a week ago to 10.79 million wmt.

Nickel stocks in Shanghai bonded warehouses grew 6% from a week ago to 61,000 mt. Warehouse stock for Nickel at LME was at 251838mt that is down by -1440mt.

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