EPIC RESEARCH MCX NIVKEL UPDATE OF 8 JUNE 2016

Nickel trading range for the day is 568.2-586.2.
Nickel dropped as funds reversed bets on higher prices and negative sentiment created by weak demand growth in China.  
China's foreign exchange reserves in May fell to $3.19 trillion, central bank data showed, likely due to the effects of a stronger dollar and sporadic official intervention.          
Nickel daily stocks at Shanghai exchange came down by 41 tonnes.

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