EPIC RESEARCH MCX NICKEL UPDATE OF 16 JUNE 2017

Nickel trading range for the day is 566.6-579.2.Nickel gained on short covering while prices touched the lowest in a year this week pressured by a fall in Chinese steel prices and ahead of expected weaker Chinese data.Below-forecast U.S. inflation and retail sales data, coming hot on the heels of reports showing Chinese growth may lose momentum, had already reinforced concerns. Nickel gained after capacity cuts in China drove up steel prices by 3 percent.

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