SHANGHAI, Jun. 17 (SMM) – The most trading 1509 nickel contract on SHFE started at RMB 96,000/mt during Tuesday evening session and moved narrowly between RMB 95,100-95,500/mt after hitting a low of RMB 95,100/mt, to close the session at RMB 95,370/mt, down 0.34%.
The contract opened Wednesday trading session at RMB 95,270/mt and then advanced slightly to RMB 95,930/mt thanks to growing LME nickel. The price finished the day down 1.73% at RMB 95,260/mt on profit-taking by shorts, with the session low at RMB 94,700/mt. Positions decreased 974 to 213,000 whilst trading volumes were up 13,910 to 400,000 lots.
SHFE 1509 nickel is expected to fluctuate at low tonight. LME nickel rebounded during European and US trading hours.