Friday, 9 June 2017

EPIC RESEARCH MCX NICKEL UPDATE OF 09 JUNE 2017

Nickel trading range for the day is 560.8-577.2. Nickel remained under pressure despite as better than expected Chinese economic data allayed some concerns about supply. China reported stronger than expected exports and imports for May despite falling commodity prices, suggesting the economy is holding up better than feared. Global nickel miners are coming under renewed pressure to cut costs or close capacity as a flood of cheap ore pushes prices to one-year lows.

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