EPIC RESEARCH MCX NICKEL UPDATE OF 23 MAY 2018

Nickel trading range for the day is 982.1-1018.9. Nickel remained supported with prices underpinned as the chance of a U.S.-China trade war appeared to fade. The global nickel market deficit widened to 15,700 tonnes in March from a revised deficit of 6,600 tonnes in the previous month. Stocks registered with the ShFE closed last week at 33,000 tonnes, their lowest level since October 2015, when the Shanghai contract was in its infancy.

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