EPIC RESEARCH MCX NICKEL UPDATE OF 19 APRIL 2018

Nickel trading range for the day is 887.7-1097.9. Nickel prices rallied 7% to close above 1000 level mark on the back of fears that US sanctions on Russian companies were expanding to include the metal. Speculation that Russia’s Nornickel, the second-largest producer of nickel globally, could face sanctions from the US government was the main factor supporting prices. Indonesia exported 8,637,595 tonnes of nickel ore up to March 31, 2018 since its ore export policy was revised in January 2017, data from the mining ministry showed.

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