EPIC RESEARCH MCX NICKEL UPDATE OF 02 JANUARY 2018

Nickel trading range for the day is 802.2-818.4. Nickel prices dropped on profit booking after prices rallied due to shorter ore supply and better stainless steel demand. Raining season in the Philippines and bad weather in Indonesia at the start of the year would limit nickel ore supply. Customs data showed that China's imports of refined nickel and nickel alloy surged 55.7 percent in November from the same month a year ago to 26,349 tonnes.



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