Tuesday, 16 May 2017

EPIC RESEARCH MCX NICKEL UPDATE OF 16 MAY 2017

Nickel trading range for the day is 576.6-606.4.Nickel prices dropped as pressure due to weak Chinese industrial production and investment data for April.Nickel dropped as newly appointed Environment Secretary signaling openness to allow shuttered mines to resume operations after a review.The risk of oversupply is spreading as Indonesian resume nickel ore exports after the government relaxed its export ban earlier this year.

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