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Home / Metal News / SHFE 1507 Nickel Ends up at RMB 107,960/mt (May 5, 2015)

SHFE 1507 Nickel Ends up at RMB 107,960/mt (May 5, 2015)

iconMay 5, 2015 17:55
The most active SHFE 1507 nickel opened at RMB 107,850/mt Monday night. The contract later moved higher at RMB 109,230/mt, but met resistance at RMB 110,000/mt.

SHANGHAI, May 5 (SMM) – The most active SHFE 1507 nickel opened at RMB 107,850/mt Monday night. The contract later moved higher at RMB 109,230/mt, but met resistance at RMB 110,000/mt. Then the July-delivery nickel closed at RMB 108,060/mt, gaining 0.45%. Trading volumes dropped 32,654 to 246,190 lots. But positions rose 5,558 to 134,260.

SHFE 1507 nickel started at RMB 107,800/mt Tuesday and then fell considerably to touch the 5-day moving average after hitting a high, to dip a low of RMB 106,160/mt. Later the July-delivery nickel rolled back early losses to end the day at RMB 107,960/mt. Trading volumes rose 25,886 to 272,076 lots. But positions dropped 634 to 133,626.

SHFE 1507 nickel is expected to increase further as LME nickel rose above USD 14,000/mt during European and American trading hours.
 

SHFE 1507 nickel
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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