Nickel trading range for the day is 679.9-743.1. Nickel dropped despite positive Chinese services data, as investors locked in profits on recent gains. UBS raised its forecast for electric vehicles, which eventually led to an upgrade in the 2020-2021 nickel outlook.A vast inventory pile of metal and ore means it will be difficult to see nickel prices above the marginal mining costs of $6 per pound ($13,230 a tonne).
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