SHANGHAI, Dec. 15 (SMM) – SHFE 1601 nickel started at RMB 68,820/mt for night trading Monday and then headed for stability with small rise in longs, to end at RMB 68,790/mt.
SHFE nickel opened Tuesday trading session at RMB 68,820/mt and once shot up to RMB 69,770/mt. Later, the contract fell below the 10 and 20-day moving averages due to exit of longs and stabilized at the 5-day moving average, to close at RMB 68,080/mt, off 0.45%. Trading volumes dropped 62,750 to 624,000 lots and positions reduced 18,706 to 226,000.
Today is the last trading day for SHFE 1512 nickel. The contract started at RMB 68,100/mt and ended at RMB 68,100/mt with settlement prices at RMB 68,100/mt. Trading volumes grew 24 to 48 lots and positions kept at 1,572. The final delivered nickel totaled 786 mt and most were Russian nickel with settlement price at RMB 68,100/mt, RMB 68,000/mt above spot nickel prices.