Thursday 20 October 2016

EPIC RESEARCH MCX NICKEL UPDATE OF 20 Oct 2016

Nickel trading range for the day is 670.5-700.5.
Nickel dropped as LME nickel closed down 1 percent at $10,310 as Chinese industrial production data for last month missed forecasts.
Data from the International Nickel Supply Group indicated that the global nickel market returned to a balance in late August.
On the supply side, world mine output fell 6.9% to 1.3457 million tons in the first eight months of the year, mainly due to a 21% drop in Philippine output.




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