Nickel gained as investors looked to some signs of easing trade tensions between the United States and China, which have been threatening economic growth.
Nickel is expected to show a deficit of 84,000 tonnes in 2019, compared with a shortage of 146,000 tonnes last year, INSG said.
The discount on cash nickel compared with three-month metal fell to $40 from about $70 at the beginning of May, indicating tight supply.
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