NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1190 R1-1175 S1-1145 S2-1130
Nickel settled flat as lack of important macroeconomic news, while prices hold near to the highest since May as the U.S.
PBOC recognized that China’s economic structure showed positive changes in the Q2 and it will employ flexible monetary policy to support the country’s economy.
Production of nickel will exceed demand by 50,000 metric tons this year before a deficit in 2015. Warehouse stock for Nickel at LME was at 305394mt that is up by 858mt.
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