SHANGHAI, Aug. 18 (SMM) – SHFE 1509 nickel narrowly ranged between RMB 81,900-82,500/mt after opening Monday evening session at RMB 82,150/mt. The contract finally closed at RMB 81,920/mt.
SHFE 1601 nickel soared to RMB 83,250/mt but then fell below RMB 83,000/mt, to end at RMB 82,650/mt.
On Tuesday, SHFE 1508 nickel started at RMB 81,920/mt and then hovered around RMB 82,000/mt. But in the afternoon business, the contract was depressed by Chinese stocks to near RMB 80,000/mt and finished the day at RMB 80,400/mt, off 2.07%. Trading volumes dropped 23,758 to 172,000 lots and positions decreased 4,060 to 101,000.
SHFE 1601 nickel fell slightly after starting Tuesday trading session at RMB 82,650/mt but in the afternoon business, the contract drifted lower to RMB 81,100/mt. The price ended at RMB 81,130/mt. Positions were up 13,248 to 143,000 and trading volumes jumped 56,718 to 119,000 lots.