EPIC RESEARCH MCX NICKEL UPDATE OF 7 JUNE 2018

Nickel trading range for the day is 1032.7-1063.1. Nickel prices dropped on profit booking after prices gained due to the production cut at Jiangsu and Shandong province on environmental restrictions. The purchasing managers’ index (PMI) for the downstream industries of nickel in May stood at 50.44. Production cuts at steel mills, especially in Jiangsu province due to environmental inspections, depressed the PMI for the stainless steel industry.

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