SHANGHAI, May 13 (SMM) – SHFE 1507 nickel started lower at RMB 112,280/mt Tuesday night and later regained early losses responding to rising LME nickel. The contract finally traded at RMB 113,050/mt. Trading volumes jumped 213,000 to 585,000 lots and positions climbed 1,154 to 129,000.
The July-delivery nickel opened Wednesday at RMB 113,070/mt and then increased slightly but later dropped following LME nickel to RMB 110,800/mt in the morning session, falling below the 5-day moving average. In the afternoon business, the metal rebounded slightly and finished down at RMB 111,750/mt. Trading volumes decreased 119,000 to 753,000 lots and positions dropped 2,668 to 124,000