SHANGHAI, Apr. 24 (SMM) – SHFE 1507 nickel prices lurched higher after opening at RMB 95,840/mt on Thursday evening. The contract continued to rise at the tail of trading, and finally closed at RMB 96,590/mt, up 0.76%. Positions were up 1,374 to 112,020.
On Friday, the contract started the day at RMB 96,590/mt, and then fluctuated around RMB 96,650/mt. Finally, SHFE 1507 nickel prices finished higher at RMB 97,900/mt, driven by rising LME nickel. Trading volumes were up 17,268 lots to 67,724 lots, and positions were up 17,268 to 113,816. SHFE nickel prices are expected to continue rising.