Nickel trading range for the day is 621.4-640.4. Nickel dropped as the market adopted a more cautious attitude towards demand growth in China, but losses were limited by the weaker dollar.
Rise in export orders to a near 1-1/2-year high and signs an inventory overhang drag was fading offered hope for the manufacturing sector.
The INSG has projected a 49,000-tonne deficit in the nickel market in 2016, an increase from its October forecast of a 23,000-tonne deficit for this year.
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