EPIC RESEARCH MCX NICKEL UPDATE OF 07 NOVEMBER 2017

Nickel trading range for the day is 822.9-845.5.Nickel gains amid market tightening driven by Chinese nickel pig iron (NPI) cuts in Shandong province during the winter heating season. Goldman Sachs upgraded its nickel forecasts, but said prices were more likely to find nearby support from China's pollution crackdown given EV demand is set as a story for 2020. Goldman upgraded its 3-month nickel view to $12,500 from $9,000, its 6-month view to $12,000 from $9,000 and its 12-month view to $11,000 from $9,000.

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