Monday, 5 June 2017

EPIC RESEARCH MCX NICKEL UPDATE OF 05 JUNE 2017

Nickel trading range for the day is 559.6-582. Nickel bounced off its weakest level in nearly a year on short covering after prices dropped pressured by weaker iron ore and oil prices.U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum. While Nickel inventories at LME warehouses remain at elevated levels even though they were well below their 2015 peak.

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