SHANGHAI, Aug. 19 (SMM) – The sharp fall in Chinese stock market triggered bearishness again on Tuesday. SHFE 1601 nickel shifted to the most traded contract again. The contract once dived to RMB 80,620/mt after starting Tuesday evening session at RMB 81,090, to close at RMB 81,390/mt.
The most active contract opened at RMB 81,380/mt on Wednesday and then fell to RMB 80,840/mt in response to China’s slumping shares. But late the price grew to finish at RMB 81,860/mt, off 0.74%. Trading volumes were up 106,000 to 286,000 lots with positions up 11,378 to 154,000, indicating that longs entered market with prices at lows.