SHFE Nickel Suffers a Loss of 1.05% (Sept. 8, 2015)

Published: Sep 8, 2015 17:16

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SHFE 1601 nickel trended lower to the 10-day moving average after opening Monday evening session at RMB 76,870/mt.

SHANGHAI, Sept. 8 (SMM) – SHFE 1601 nickel trended lower to the 10-day moving average after opening Monday evening session at RMB 76,870/mt, to end at RMB 76,200/mt. Positions were up 12,638 to 223,000.

SHFE 1601 nickel started at RMB 76,870/mt for day trading Tuesday. Despite LME nickel fluctuating at lows, SHFE nickel drifted lower and lost RMB 1,020/mt near noon with shorts gathering strength. But later, SHFE nickel followed Chinese stock market to rally and closed at RMB 76,190/mt, down 1.05%. Trading volumes surged 303,000 to 596,000 lots and positions rose sharply by 39,032 to 249,000.

SHFE 1601 nickel is predicted to grow this evening, contributed by exit of shorts.

SHFE nickel prices

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