Russia exported 102,100 metric tons of nickel in January-June, 3.9% less than in January-June 2009, the federal customs service reported. The exported nickel was worth $2.2 billion compared with $1.187 billion a year ago. Nickel has touched a low of Rs 1026.3 a kg after opening at Rs.1052, and last traded at Rs 1034.6.For today market is looking for the support at 1023.3, a break below could see a test of 1011.9 and where as resistance is now likely to be seen at 1049, a move above could see prices testing 1063.3.

Trading Ideas:

Nickel trading range is 1011.9-1063.3.

Russia January-June nickel exports -3.9% on year at 102,100 tons

Nickel is getting support at 1028.20 and resistance is at 1040.

Spread between nickel AUG & SEP contracts yesterday traded in the range of 0.80 - 6.7.