EPIC RESEARCH MCX NICKEL UPDATE OF 05 July 2018

Nickel trading range for the day is 944.6-1005.2.

Nickel prices dropped on weak Chinese economic data and trade war between China and the United States.

Nickel ore inventories across all Chinese ports shrank 40,000 wmt from a week ago to 8.87 million wmt.

US factory orders exceeded expectations to rise 0.4% month on month in May, up from April’s -0.4%, which marked a record low in nearly six years.

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