Nickel trading range for the day is 861-891.8.
Nickel dropped as market sentiment remained bearish about a rise in near-term supply after Brazil’s Vale SA said it was set to reopen an iron ore mine.
The US dollar edged lower and found little support from data that showed US home sales fell more than expected in March amid supply constraints.
NAR reported that US existing home sales dropped 4.9% to a seasonally adjusted annual rate of 5.21 million units in March.
Warehouse stock for Nickel at LME was at 176292mt that is down by -654mt.
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