Nickel jumps to highest since April'17: Angel Commodities Broking

Ms. Kaynat Chainwala (Research Analyst - Base Metals, Angel Commodities Broking):

"Nickel price in today's session skyrocketed to ten week high levels of $9945/t as a stern warning from Philippine President Rodrigo Duterte on Monday re-ignited supply disruption fears from the top ore exporter. In his most harsh warning to the mining industry against environmental damage, he said that he might close the mining sector completely and tax miners "to death" in case there is any violation in the same.

This came as a blessing for Nickel, whose average prices plunged to a 12-month low of $8983.4/t in June'17 as supplies from both top producing nations seem to have eased following rejection of Philippines' Environment minister Regina Lopez and resumption of Nickel exports from Indonesia."

Source : Equity Bulls

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