SHANGHAI, Jul. 3 (SMM) – SHFE 1509 nickel hovered around RMB 90,000/mt during Thursday evening session and advanced to RMB 90,670/mt, to close at RMB 90,260/mt, up 0.91%.
The September-delivery nickel opened Friday trading session at RMB 90,450/mt and dipped to RMB 88,080/mt. The price hovered around the 5-day moving average in the afternoon, to finish up 0.46%. Trading volumes fell 122,000 to 530,000 lots and positions dropped 14,462 to 192,000.
SHFE 1509 nickel should increase to RMB 90,000/mt this evening as LME nickel rose during European and US trading hours.