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Monday 26 November 2018

EPIC RESEARCH MCX Nickel UPDATE OF 26 November 2018

Nickel trading range for the day is 744.9-778.9.

* Nickel remained under pressure amid expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia.

* Nickel prices were driven to the lowest in 11 months by worries about a supply surplus in 2019 and weaker demand from China, the largest consumer.

* The global nickel market deficit widened slightly to 9,200 tonnes in September from the previous month's revised deficit of 8,100 tonnes, the INSG said.

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