EPIC RESEARCH MCX NICKEL UPDATE OF 07 DECEMBER 2016

Nickel trading range for the day is 774.2-798.2. Nickel dropped on profit booking after prices seen supported on concern that the Philippines will suspend more mines after a national mining audit. Despite falling inventories of refined nickel and nickel ore, downstream buyers in China made small purchases after nickel price surged in early November. The Philippines' output of nickel ore fell 16 percent in the third quarter from a year earlier, government data showed.




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