EPIC RESEARCH MCX NICKEL UPDATE OF 31 MAY 2016

Posted by Farhan Khan on 12:07:00 with No comments
Nickel trading range for the day is 553-567.       
Nickel prices dropped as fading Chinese demand dragged prices towards their weakest monthly showing since November.       
A strike at the Cerro Matoso nickel mine, global second largest ferro-nickel mine which is owned by South32, is expected to break out not before June 14.            
ShFE stocks, have mushroomed to 91,715 tonnes from just 3,100 tonnes this time last year, when the Shanghai contract had only just started trading.


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