EPIC RESEARCH MCX NICKEL UPDATE OF 31 JULY 2018

Nickel trading range for the day is 927.6-957.6. Nickel gained as low inventories and robust demand for stainless steel buoyed nickel prices. On the supply front, the Philippines to ship over 4 million wmt of medium- and high-grade nickel ore every month during the July-September period. Global crude steel production rose 5.8 percent in June from a year ago, while output from top producer and consumer China rose 7.5 percent.

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