EPIC RESEARCH MCX NICKEL UPDATE OF 09 Nov 2016

Nickel trading range for the day is 724.4-768.2. Nickel dropped on profit booking after prices gained in last session as speculators bet that resurgent steel demand in China droving up. Civil unrest in Indonesia that threatens to reduce imports of the metal will tighten the supply-demand balance. German factory orders contracted unexpectedly in September, largely reflecting weak domestic demand and orders from euro area.
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