EPIC RESEARCH MCX NICKEL UPDATE OF 3 JANUARY 2017

Nickel trading range for the day is 682.4-696.2. Nickel gained while upside remains capped as worries of weakening demand receded with expectations that consumption will be strong. Chinese New Year holiday in the first quarter of 2017 will mean slowing manufacturing activity, which could cap the metal's upside temporarily. Chinese enterprises have stepped up their efforts to establish nickel smelters in Indonesia to meet growing NPI demand.

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