EPIC RESEARCH MCX NICKEL UPDATE OF 23 APRIL 2018

Nickel trading range for the day is 943.8-1008. Nickel dropped on profit booking as fears diminished that Washington might broaden its sanctions to include Norilsk Nickel. Soaring prices of nickel are unlikely to last as surges have been driven by external political developments rather than a strong economy. Indonesia's nickel ore exports are likely to increase from 5 million mt in 2017 to 10 million mt in 2018 as miners are keen to raise production.

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