EPIC RESEARCH MCX Nickel UPDATE OF 31 July 2018

Posted by Commodity Updates by Epic Research on 13:47:00 with No comments

Nickel trading range for the day is 927.6-957.6.

* Nickel gained as low inventories and robust demand for stainless steel buoyed nickel prices.

* On the supply front, the Philippines to ship over 4 million wmt of medium- and high-grade nickel ore every month during the July-September period.

* Global crude steel production rose 5.8 percent in June from a year ago, while output from top producer and consumer China rose 7.5 percent.

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