SHANGHAI, Jul. 1 (SMM) – SHFE 1509 nickel opened Tuesday evening session at RMB 87,330/mt and then rebounded from low in response to growing LME nickel, to close the session at RMB 89,600/mt.

The contract started at RMB 89,700/mt during Wednesday trading session and started to fall due to Greece’s default and China’s downbeat manufacturing PMI. The price moved in a range of RMB 87,810-89,940/mt and finished the day at RMB 88,360/mt. Trading volumes saw a decline of 143,000 to 284,000 lots with positions down 13,880 to 216,000.