SMM Nickle Market Morning Comment (Mar 7)

Published: Mar 7, 2024 09:50

Source: SMM

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Overnight, the most-traded SHFE nickel contract opened at 137,260 yuan/mt, and closed at 135,240 yuan/mt, down 1,180 yuan/mt.

Overnight, the most-traded SHFE nickel contract opened at 137,260 yuan/mt, and closed at 135,240 yuan/mt, down 1,180 yuan/mt. Trading volume decreased by 60,208 lots, and open interest increased by 215 lots. RKAB approval process in Indonesia still has big impact on nickel prices. Nickel prices continued to run weakly yesterday, mainly due to the gradual digestion of the early market macro sentiment. Nickel prices may fluctuate downward due to the influence of fundamentals.

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