SHANGHAI, Aug. 20 (SMM) – SHFE 1601 nickel touched a low of RMB 81,190/mt after starting Wednesday night session at RMB 81,600/mt, to finish slightly lower at RMB 81,500/mt.
The most active contract opened at RMB 81,490/mt on Thursday and then moved lower to RMB 79,800/mt because of falling LME nickel prices and rising shorts. In the afternoon business, the contract reversed some losses but slipped again in response to Chinese declining shares, to end at RMB 80,650/mt, off 1.48%. Trading volumes grew 93,036 to 380,000 lots and positions also increased 22,028 to 176,000.
SHFE 1509 nickel finished the day at RMB 79,900/mt.