SHANGHAI, Jun. 18 (SMM) – During Wednesday evening session, SHFE 1509 nickel opened higher at RMB 96,300/mt owing to a growth in LME nickel and then moved narrowly between RMB 95,900-96,300/mt, to finish up 0.98% at RMB 96,210/mt.
The most trading contract opened at RMB 96,310/mt and followed LME nickel up slightly during Thursday trading session, to end the day at RMB 96,300/mt, gaining 0.8%. Trading volumes fell 72,558 to 327,000 lots with positions down 9,810 to 203,000 as some shorts exited market.
LME nickel dropped further during European and US trading hours. Hence, markets generally expect SHFE 1509 nickel to fall again Thursday evening.