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Nickel trading range for the day is 806.4-835.4.
* Nickel dropped on profit booking after prices gained amid falling stockpiles and a tightening of time spreads suggested an undersupplied market.
* Stockpiles in exchange warehouses are near multi-year lows and the price of cash nickel surged, suggesting a shortage of nearby material.
* The nickel market will likely be fairly balanced in 2019 after a small deficit of 40,000 tonnes in 2018.
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