SHANGHAI, May 25 (SMM) – SHFE 1507 nickel opened lower at RMB 98,900/mt last Friday evening before rebounding above RMB 100,000/mt to regain early losse. The contract ended at RMB 100,220/mt, up RMB 150/mt or 0.15%.
LME market is suspended Monday, giving no guide to the July-delivery nickel on the SHFE. The contract started Monday morning session at RMB 100,170/mt and then fell below RMB 100,000/mt, pushing Shanghai/LME nickel price ratio down to 7.78, to fluctuate around RMB 100,000/mt. In the afternoon trading session, the contract moved between RMB 99,000-99,500/mt, to finish down 2.12% at RMB 99,480/mt. Trading volumes dropped 132,000 to 610,000 lots whilst positions rose 5,090 to 115,000.