EPIC RESEARCH MCX NICKEL UPDATE OF 6 MAY 2016
Posted by Unknown on 11:29:00 with No comments
Nickel trading range for the day is 574.8-641.2. Nickel prices dropped as LME Nickel closed down 4.5 percent at $9,020 on worries about market surpluses.
Glencore's nickel production meanwhile rose 16 percent during the quarter to 27,600 tonnes, especially due stronger output from its Murrin Murrin mine in Australia.
Traders are waiting for U.S. non-farm payrolls data for further clues as to the timing of further interest rate increases from the Federal Reserve.
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