EPIC RESEARCH MCX NICKEL UPDATE OF 23 AUGUST 2016

Nickel trading range for the day is 677.2-697.2. Nickel prices dropped tracking LME prices as Philippines mine closures tail off. Philippines is China's top supplier of nickel ore and has suspended eight nickel mines since July 8 in a clampdown on polluters. The nickel market deficit widened to 11,800 tonnes in June taking the total shortfall so far this year to 36,800 tonnes, data from the INSG showed.          
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