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As of May 6, the July contract hit daily upward limit twice since its launch on Mar. 27, with trading volumes and positions up to 609,000 lots and 134,000 respectively.
The sharp gains in the July contract not only open arbitrage trading for SHFE and Wuxi market, but also between SHFE near-by and next futures contracts, SMM’s nickel analyst Liao Rongrong said.
“Actually, traders practiced the calendar spread arbitrage trading during Thursday’s night trading, and the opportunity will be also available for the foreseeable future,” Liao added.
Price Trend of SHFE1507 and 1508 Nickel Contracts as of May 6
Price Trend of SHFE1507 and 1509 Nickel Contracts as of May 6
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