SHANGHAI, Dec. 11 (SMM) – SHFE 1601 nickel started Thursday night session lower at RMB 67,130/mt and closed the session at RMB 67,370/mt.
The most active contract opened Friday trading session at RMB 67,320/mt and then moved in a tighjt range of RMB 67,300-67,600/mt. Later, the contract headed for large gains due to stockpiling news and exit of shorts and closed at RMB 69,030/mt, up by 2.28%. Trading volumes reduced 63,726 to 725,000 lots and positions declined 12,932 to 258,000.
SHFE 1601 lead will grow further in short term with stockpiling news unconfirmed.