SHFE 1507 Nickel up 1.48% (May 4, 2015)

Published: May 4, 2015 17:37

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London Metal Exchange is closed Monday on bank holiday. The most active SHFE 1507 nickel opened at RMB 106,010/mt.

SHANGHAI, May 4 (SMM) – London Metal Exchange is closed Monday on bank holiday. The most active SHFE 1507 nickel opened at RMB 106,010/mt. HSBC’s China manufacturing PMI for April released Monday morning was only 48.9, lower than expectation, weighing down the July-delivery nickel.

But the most active contract moved higher on strong bull to RMB 108,900/mt and fell slightly later to close the day at RMB 107,580/mt, up 1.48%. Positions climbed 2,732 to 128,702. Positive technical indicators indicate that SHFE 1507 nickel is expected to increase further.

SHFE nickel

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