EPIC RESEARCH MCX NICKEL UPDATE OF 20 JULY 2017

Nickel trading range for the day is 612.7-630.1. Nickel dropped tracking weakness in LME prices fell 1.3 percent to $9,650 after the U.S. dollar rose. Preliminary data show that inventories of domestic refined nickel fell to around 160,000 tonnes in mid July, down by about 5,000 tonnes from June’s. Potential increase in NPI supply after nickel rises and inflows of Russian nickel from opening of profitable import window will add to market raw material supply.



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