EPIC RESEARCH MCX NICKEL UPDATE OF 26 DECEMBER 2016

Nickel trading range for the day is 687.2-736.2. Nickel prices dropped on profit booking after prices remained supported as the nickel supply chain continues to tighten. The World Bureau of Metal Statistics said that nickel market was in a deficit of 57,100 mt in the first 10 months of year. The Chinese smelter/refinery production during the initial ten-month period of the year witnessed decline of 35.4 kt compared to 2015.



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