SHANGHAI, Jun. 4 (SMM) – SHFE 1509 nickel opened at RMB 99,200/mt during Wednesday night session and closed the session at RMB 99,250/mt, gaining 0.19%.
The most trading contract started Thursday session at RMB 99,380/mt and hit a low of RMB 97,720/mt on falling LME nickel and China’s longs. The contract finished the day down 0.54% at RMB 98,530/mt after rebounding slightly on correction in the afternoon. Trading volumes dropped 36,094 to 373,158 lots whilst positions jumped 1,410 to 193,186.
LME nickel lost growing momentum during European trading hours. SHFE 1509 nickel is expected to fall further this evening.