SHFE Nickel Sees a Gain of 1.10% (Dec. 30, 2015)

SHANGHAI, Dec. 30 (SMM) – SHFE 1605 nickel opened at RMB 69,030/mt during Tuesday night session and grew to RMB 70,000/mt due to exit of shorts, to end at RMB 70,230/mt.

The most active contract started Wednesday trading session at RMB 70,230/mt and met resistance at the 40-day moving average after rebounding markedly with closing price up 1.10% at RMB 70,070/mt. Trading volumes were up 351,000 to about 1 million lots while positions reduced 19,140 to 444,000.