Nickel trading range for the day is 595.5-621.1. Nickel dropped on profit booking tracking weakness in LME prices dropped by 1.5 percent to $9,345 as a smaller discount indicates tighter supply. Worlds nickel market was in deficit of 20,000 tonnes during the first two months of 2017, according to latest data from WBMS. The discount of LME cash nickel to the three-month contract shrank to $50 a tonne from $67.50 late last month, the largest since January 2015.

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