Nickel trading range for the day is 854-889.2.
* Nickel prices gained after the Chinese authorities pledged preemptive and prompt actions on the economy.
* Japanese trading house Sumitomo Corp lowered its forecast for nickel output at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in the year to March 31.
* Nickel inventories in the Shanghai bonded areas shrank 3,500 mt, or 10% from last Friday to stand at 31,500 mt as of November 2, data showed.
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