SHFE Nickel Fall on Poor PMI Reading (Apr. 23, 2015)

SHANGHAI, Apr. 23 (SMM) – SHFE 1507 nickel contract prices opened at RMB 96,120/mt Wednesday evening, and fluctuated narrowly around the 5-day moving averages. Trading volumes were only up 980 lots to 45,270 lots. 

 

SHFE 1507 nickel prices started Thursday at RMB 96,250/mt, and slid below the 5-day moving average due to poor HSBC’s China PMI results. Later, the contract erased some losses. In the afternoon session, the July contract pulled back again by position closing by longs, and finally ended at RMB 95,860/mt. Trading volumes were up 10,526 lots to 55,796 lots, while positions were down 2,060 to 110,646.