SHANGHAI, Sept. 21 (SMM) – SHFE 1601 nickel gapped lower at RMB 77,200/mt last Friday evening responding to LME nickel and then narrowly moved in RMB 77,200-77,500/mt, to close at RMB 77,300/mt.
SHFE contract started at RMB 77,200/mt on Monday and then dropped as market sentiment was depressed by SHFE zinc’s falling to daily limit. The contract once dived to RMB 76,320/mt but later followed LME nickel up, to close at RMB 78,110/mt, edging up 0.28%. Trading volumes fell 2,148 to around 1.44 million lots. Positions grew 24,522 to 293,000.