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SHFE 1507 Nickel Closes at RMB 112,750/mt (May 8, 2015)
May 8,2015 18:10CST
price review forecast
Source:SMM
The most-traded July nickel contract on Shanghai Futures Exchange started at RMB 113,700/mt Thursday night.

SHANGHAI, May 8 (SMM) – The most-traded July nickel contract on Shanghai Futures Exchange started at RMB 113,700/mt Thursday night and then dived to RMB 110,550/mt before finally finishing at RMB 111,210/mt. Trading volumes were up 266,000 to 584,000 lots whereas positions were down 438 to 123,000.

The July-delivery nickel opened Friday morning session at RMB 111,220/mt and then touched the 5-day moving average, to move lower to RMB 110,000/mt. Then the contract rebounded following LME lead, to end at RMB 112,750/mt. Trading volumes dropped 90,636 to 878,416 lots while positions fell 5,122 to 118,556.

LME nickel is expected to rebound this evening.
 

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