EPIC RESEARCH MCX NICKEL UPDATE OF 31 OCTOBER 2017

Nickel trading range for the day is 736.7-764.1. Nickel prices ended with gains tracking firmness in LME prices and in step with firmer China’s steel prices. China's eastern province of Shandong has fulfilled its 2017 steel capacity cutback target by eliminating 1.75 mln tns of ironmaking capacity and 5.27 mln tns of steel capacity.Norilsk Nickel reported a 10% q-o-q increase in its nickel output, but said Q3 copper and platinum group metals production had declined.



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