DOLLAR ADVISORY MCX NICKEL UPDATE OF 23 Nov 2016

Nickel trading range for the day is 764.2-789.8. Nickel dropped on profit booking after gaining because of a decrease in global nickel supplies. Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent from 4 percent. The global nickel market is seen in a 66,000 tonne deficit next year, on growing demand from the stainless steel sector, INSG said.
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