EPIC RESEARCH MCX NICKEL UPDATE OF 3 MAY 2016

Posted by Farhan Khan on 13:17:00 with No comments
Nickel trading range for the day is 621.4-640.4.
Nickel dropped as the market adopted a more cautious attitude towards demand growth in China, but losses were limited by the weaker dollar.  
Rise in export orders to a near 1-1/2-year high and signs an inventory overhang drag was fading offered hope for the manufacturing sector. 
The INSG has projected a 49,000-tonne deficit in the nickel market in 2016, an increase from its October forecast of a 23,000-tonne deficit for this year.

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