EPIC RESEARCH MCX NICKEL UPDATE OF 28 MAY 2018

Nickel trading range for the day is 981.3-1034.7. Nickel sentiments remains firm buoyed by strong demand from the stainless steel sector, as well as growing demand from the electric vehicle market. An estimated 7,000 mt of low-grade NPI output will be affected across low-grade NPI plants in Linyi of Shandong province as plants shut for the Shanghai Cooperation. LME nickel stockpiles are at their lowest since 2014, underlining a deficit in the metal used for stainless steel.

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