SHANGHAI, May 28 (SMM) – SHFE 1507 nickel started at RMB 100,420/mt Wednesday night, and then grew to RMB 101,440/mt as LME nickel rebounded before dropping, to finally end at RMB 101,230/mt, up 0.56%.
SHFE 1509 nickel shifted to the most active contract, to open at RMB 97,780/mt and end at RMB 98,740/mt, up 0.64% Wednesday evening.
SHFE 1507 nickel started at RMB 101,350/mt on Thursday, fell back following a high of RMB 102,040/mt, and later rolled back early gains as LME nickel met resistance at USD 13,000/mt. In the afternoon, the contract edged down, but turned to rise slightly at the tail of trading, to finish at RMB 101,350/mt, up 0.46%. Trading volumes rose 139,000 to 545,000 lots whilst positions cut 3,076 to 116,000.
The most trading SHFE 1509 nickel opened Thursday morning session at RMB 97,780/mt and rebounded a lot at the tail of trading, to end up 1.61% at RMB 99,470/mt. Trading volumes were up 125,000 to 215,000 lots and positions were up 22,280 to 144,000.
The July delivery nickel should fluctuate between the 5-day and 40-day moving averages this evening. LME nickel fell during European and US trading hours, to hover around the 5-day moving average.