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SHFE Nickel Posts 1.71% Rise (Dec. 2, 2015)
Dec 2, 2015 16:34Source:SMM
SHFE 1601 nickel started at RMB 69,000/mt for night trading Tuesday and returned above RMB 70,000/mt.
SHANGHAI, Dec. 2 (SMM) – SHFE 1601 nickel started at RMB 69,000/mt for night trading Tuesday and returned above RMB 70,000/mt with modestly longs gathering strength, helped by frequent output cut news, to close the session at RMB 70,080/mt.
SHFE 1601 nickel started at RMB 70,070/mt during Wednesday trading session and once shot up to RMB 70,940/mt. Later, the contract headed for stability with news of stainless producers announcing output cut and ended up 1.71% at RMB 70,150/mt. Trading volumes saw a decline of 372,000 to 855,000 lots with positions down 2,700 to 311,000.
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