ZOID RESEARCH:NICKEL


3 month forward LME nickel prices traded positive and settled at $15880 on Monday up by $140 from its previous close. This has been several weeks that the commodity is trading on a positive note post Indonesia banned nickel exports and now the Geo political tension in Russia-Ukraine may further ruin the flow of supply of Nickel into the global market pushing prices higher. Meanwhile, the falling dollar index (-0.30%) and the rising euro +037% is also supporting the commodity to trade on a positive note. At MCX, March future contract ended at Rs. 972.80 most stable from its previous close.


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