SHANGHAI, Sept. 15 (SMM) – SHFE 1601 nickel started at RMB 77,480/mt for night trading Monday and then fluctuated at lows in RMB 77,300-77,800/mt in response to slumping LME nickel, to close at RMB 77,750/mt.
On Tuesday, SHFE nickel opened at RMB 77,790/mt and drifted higher to RMB 78,000/mt. In the afternoon, the contract slid below the 10-day moving average before closing at RMB 76,960/mt, losing 1.66%. Trading volumes increased 32,120 to 1.1 million lots and positions were up 8,760 to 249,000.
Today is the last trading day for SHFE 1509 nickel. SHFE 1509 nickel ended at RMB 75,550/mt, down 1.63% with final settlement price at RMB 75,950/mt. Trading volumes dropped 600 to 2,688 lots but positions grew 1,164 to 23,472. A total of 11,736 mt of nickel plates were delivered for SHFE 1509 nickel contract today with most being Russian nickel plates.