SHFE Nickel Finishes with Small Gains (2017-3-16)

Published: Mar 16, 2017 16:45

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SHFE 1705 nickel started at RMB 85,240/mt and ended at RMB 85,510/mt, up 0.99%.

SHANGHAI, Mar. 16 (SMM) – On Thursday, SHFE 1705 nickel started at RMB 85,240/mt and then advanced to RMB 85,790/mt. The contract later gave up previous gains and moved below the moving average. During the afternoon trading, SHFE 1705 nickel increased slightly and then fluctuated. The contract ended at RMB 85,510/mt, up 0.99%. Trading volumes fell 22,000 to 407,000 llots and positions dropped 14,600 to 460,000.

SHFE 1705 nickel will increase with positive technical indicators but any growth will be limited with pressure from the moving averages.

SHFE nickel LME nickel nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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