SHANGHAI, Dec. 21 (SMM) – SHFE 1605 nickel shifted to the most active contract last Friday night. The contract opened at RMB 69,800/mt and then hovered between RMB 69,800-70,200/mt, to end at RMB 69,900/mt.
The most active contract opened Monday trading session at RMB 69,930/mt and narrowly ranged between RMB 69,900-70,150/mt. Base metals grew across the board due to news of stockpiling in Chinese market and SHFE nickel finally ended at RMB 70,500/mt, edging up 0.97%. Trading volumes were up 13,518 to 524,000 lots and positions increased 21,156 to 315,000.