SHFE Nickel Prices Expected to Stabilize This Evening (Apr. 1, 2015)

SHANGHAI, Apr. 1 (SMM) – SHFE 1507 nickel contract prices opened at RMB 93,940/mt Tuesday evening, then moved between RMB 93,100-93,700/mt. As LME nickel prices plunged, SHFE 1507 nickel contract prices slid to RMB 91,290/mt, and closed at RMB 91,870/mt. Trading volumes soared 24,846 to 85,752 lots, and total positions increased 10,436 to 65,324 lots.

SHFE 1507 nickel contract prices opened at RMB 91,880/mt on Wednesday, then edged up to claw back early gains. However, a rebounding US dollar index weighed down base metals. Trading volumes decreased 12,552 to 73,200 lots, and total positions grew 5,636 to 70,960 lots. SHFE 1507 nickel contract prices should stabilize this evening.