EPIC RESEARCH MCX NICKEL UPDATE OF 29 AUGUST 2016

Nickel trading range for the day is 647.2-668.6.
Nickel prices settled flat as doubts about Chinese demand and high stockpiles of the metal damped the outlook for the market.
Steel production in China, will probably contract this year and shrink further in 2017 as local demand slows, hurting prospects for the metal.
Imports in the first seven months totaled 13.84 million tonnes, a drop of 27.3 percent from the same period last year.
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