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Thursday, 16 February 2017

EPIC RESEARCH MCX NICKEL UPDATE OF 16 FEBRUARY 2017


Nickel trading range for the day is 708.3-739.1. Nickel ended the day with gains buoyed by supply disruptions in the Philippines, the world's top nickel exporter. Philippine President Rodrigo Duterte supported his environment minister's decision to cancel nearly a third of contracts for undeveloped mines. China's nickel inventories are near the lowest since May, while port ore stocks are 1.07 million tonnes, the least since 2011.

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