SHANGHAI, May 7 (SMM) – The most-traded SHFE 1507 nickel started at RMB 114,580/mt Wednesday night and then slipped following LME lead. The contract rebounded slightly at the tail of session, to end at RMB 111,900/mt. Trading volumes were up 428,000 to 651,000 lots. But positions were down 3,736 to 130,000.
The July-delivery nickel opened Thursday morning session at RMB 111,850/mt and then set for a moderate decline on profit-taking. The contract hovered between RMB 111,400-113,200/mt during daytime trading, to close up at RMB 112,500/mt. Trading volumes surged 360,000 to 969,000 lots while positions fell 10,500 to 124,000.