SHFE 1509 Nickel Tumbles 3.56% (Jun. 12, 2015)

Published: Jun 12, 2015 18:14

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SHFE 1509 nickel opened Thursday evening session at RMB 101,600/mt and dropped below RMB 100,000/mt answering to plunging LME nickel, to end the session down 1.68% at RMB 99,790/mt.

SHANGHAI, Jun. 12 (SMM) – SHFE 1509 nickel opened Thursday evening session at RMB 101,600/mt and dropped below RMB 100,000/mt answering to plunging LME nickel, to end the session down 1.68% at RMB 99,790/mt.

The most trading contract started at RMB 99,780/mt during Friday trading session and dipped to RMB 97,860/mt after rebounding above RMB 100,000/mt, to finish the day at RMB 98,070/mt, down 3.56%. Trading volumes rose 162,000 to 485,000 lots whereas positions dropped 1,654 to 200,000 with longs exiting market.

LME nickel found support at USD 13,000/mt during European trading hours and may fail to rebound on stronger dollar. Thus, SHFE 1509 nickel should fluctuate at lows this evening.

nickel prices SHFE 1509 nickel prices

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