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Thursday, 31 May 2018

EPIC RESEARCH MCX NICKEL UPDATE OF 31 MAY 2018


Nickel trading range for the day is 975.5-1038.9. Nickel prices gained as support seen after LME nickel hit a high of $15,190/mt as the US dollar weakened. Nickel ore output in the Philippines, fell 2 percent in the first quarter from a year ago as rains hampered mining operations. Crude steel output at mills operated by companies of the CISA during May 11-20 rose some 3.1% from levels during May 1-10 to average 2 million mt/day.

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