SHANGHAI, Dec. 22 (SMM) – SHFE 1605 nickel started at RMB 71,010/mt for night trading Monday and then moved higher to RMB 71,710/mt. The contract fell slightly before closing at RMB 71,400/mt.
The most actively-traded contract opened Tuesday trading session at RMB 71,400/mt and erased earlier gains with shorts gathering strength with closing price at RMB 70,840/mt, off 0.41%. Trading volumes grew 25,240 to 854,000 lots and positions were up 23,610 to 369,000.
Little downside room is in sight for SHFE 1606 nickel this evening with support at moving averages.