EPIC RESEARCH MCX Nickel UPDATE OF 8 March 2019

Nickel trading range for the day is 900.8-959.8.

Nickel dropped dragged by news of new smelting capacity coming online in China and Indonesia.

LME nickel stocks have declined for 10 days in a row to under 200,000 tonnes, while global exchange inventories of the metal were 47 percent lower year-on-year.

Data from the INSG shows the nickel market deficit was 46,000 tonnes in 2016, 115,000 tonnes in 2017 and 127,000 tonnes last year.


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