EPIC RESEARCH MCX NICKEL UPDATE OF 12 JANUARY 2017

Nickel trading range for the day is 662.3-737.5. Nickel dropped edged lower on fresh selling tracking weakness from LME Nickel which closed down 4.1 percent at $10,180. The market is awaiting the Indonesian government’s new mining rules to be released later this week. Traders have been closely watching the situation given Indonesia is a major producer of nickel and the nickel supply chain has been greatly impacted .

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