Thursday, 25 May 2017

EPIC RESEARCH MCX NICKEL UPDATE OF 25 MAY 2017

Nickel trading range for the day is 578.3-605.9.Nickel prices dropped below 590 level dragged down by losses in steel and after China trade data showed a surge in ore imports from the Philippines.Lower Chinese steel and iron ore prices and a surge in Chinese nickel ore imports from the Philippines drove the nickel prices.A 4,128-tonne rise in on-warrant nickel at LME-registered warehouses to 269,808 tonnes helped drive prices down by signalling good supply.

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