Tuesday, 18 March 2014

CAPITAL STROKE COMMODITY UPDATE 19 MARCH 2014: MCX NICKEL



Nickel trading range for the day is 968.1-1001.7.

Nickel as an Indonesian ban on unprocessed ore coupled with geopolitical tensions between Russia and the West sparked fears of a supply shortage.

Still, nickel inventories are high as users built up stockpiles in anticipation of the Indonesian ban.

The US housing starts decreased 0.2% to a seasonally adjusted annual rate of 907,000, lower than the 910,000 expected.

Warehouse stock for Nickel at LME was at 270930mt that is up by 120mt.

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