Nickel yesterday traded with the positive node and settled 0.09% up at 1045.3. Some support had been seen from the LME stock also which came down by -156mt, the total stock at LME is now at 114372mt. BHP Billiton said that a shortage of hydrogen has halted output temporarily at its Kwinana nickel refinery in Western Australia. "I can confirm that BHP Billiton Nickel West Kwinana is currently experiencing a shortage of hydrogen, which is supplied by a third party," a company spokesman told. In yesterday's trading session nickel has touched the low of 1044.5 after opening at 1047, and finally settled at 1045.3. For today's session market is looking to take support at 1043.6, a break below could see a test of 1041.8 and where as resistance is now likely to be seen at 1048, a move above could see prices testing 1050.6.

Trading Ideas:

Nickel trading range is 1041.8-1050.6.

Nickel output halted at BHP Australia refinery

Nickel is having resistance at 1055.20 and support at 1033.10 level.

Spread between nickel MAY & JUN contracts yesterday traded in the range of 6.00 - 7.4.