EPIC RESEARCH MCX NICKEL UPDATE OF 8 AUGUST 2018

Nickel trading range for the day is 929.5-965.1. Nickel gained as dollar softened and as Chinese yuan showed more stability after the country’s central bank raised the cost of shorting the currency. China unveiled tariffs on 5,207 items imported from US, with the extra levies ranging from 5 percent to 25 percent, say could eventually undermine growth. The price spread between Jinchuan and Norilsk nickel remained wide in the Shanghai spot market due to tight supply of Jinchuan materials.

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