EPIC RESEARCH MCX NICKEL UPDATE OF 10 JANUARY 2017

Nickel trading range for the day is 697.9-713.9. Nickel prices gained as support seen after the update that Nickel ore inventories at seven major Chinese ports kept dropping. Nickel ore inventories at seven major Chinese ports were down 330,000 tonnes on a weekly basis. Currently, domestic NPI producers reduced their acceptance price level to medium and high-grade nickel ore as falling NPI prices squeezed their profits.

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