EPIC RESEARCH MCX NICKEL UPDATE OF 4 JANUARY 2017

Nickel trading range for the day is 666.8-710.4. Nickel prices dropped on profit booking after prices gained as business picked up as market participants returned from the seasonal holidays. China’s official manufacturing PMI for December was 51.4, marking the second-highest level for 2016 though lower than 51.7 for November. The Caixin manufacturing PMI for December hit 51.9, beating market expectations of 50.9 while also reaching its highest level since January 2013.

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