SHANGHAI, Nov. 10 (SMM) – SHFE 1601 nickel opened higher at RMB 74,100/mt on Monday night and ranged between RMB 73,900-74,100/mt with profit-taking by shorts, to end at RMB 73,940/mt. Trading volumes dropped to 186,000 lots.
SHFE nickel once lurched down to RMB 72,430/mt, the lowest since its launch, after opening Tuesday trading session at RMB 73,850/mt. The most active contract rebounded, helped by exit of shorts and closed at RMB 73,890/mt, off 0.14%. Trading volumes saw a rise of 10,510 to 742,000 lots while positions fell 1,194 to 432,000.