SHANGHAI, Jun. 9 (SMM) – The most active September-delivery nickel on SHFE started Monday evening higher at RMB 100,850/mt and touched RMB 101,970/mt. The contract closed the session up 0.88% at RMB 101,460/mt after hovering around RMB 101,500/mt.
SHFE 1509 nickel opened at RMB 101,460/mt morning session Tuesday and then moved around RMB 101,000/mt despite of jumping LME nickel. In the afternoon business, the price hit a high of RMB 102,180/mt thanks to growing LME nickel. But the metal dropped to RMB 101,000/mt near the session’s end, to finish the day at RMB 100,900/mt, rising 1.52%. Positions were down 2,852 to 215,000 with trading volumes up 109,000 to 603,000 lots.
SHFE 1509 nickel should increase slightly this evening answering to LME nickel’s growth during European trading hours.