EPIC RESEARCH MCX NICKEL UPDATE OF 01 AUGUST 2017

Nickel trading range for the day is 649.9-667.7. Nickel dropped on profit booking after prices rallied amid ongoing concerns about supply from the Philippines, which has been cracking down on the mining sector. The Philippines' environment minister Roy Cimatu said, he would not lift a ban on open-pit mining imposed in April. China’s total nickel ore port inventories are estimated to grow 50,000 tonnes on a weekly basis.

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