SHFE Nickel Sees a Gain of 1.10% (Dec. 30, 2015)

Published: Dec 30, 2015 17:40

Save

SHFE 1605 nickel opened at RMB 69,030/mt during Tuesday night session and grew to RMB 70,000/mt due to exit of shorts, to end at RMB 70,230/mt.

SHANGHAI, Dec. 30 (SMM) – SHFE 1605 nickel opened at RMB 69,030/mt during Tuesday night session and grew to RMB 70,000/mt due to exit of shorts, to end at RMB 70,230/mt.

The most active contract started Wednesday trading session at RMB 70,230/mt and met resistance at the 40-day moving average after rebounding markedly with closing price up 1.10% at RMB 70,070/mt. Trading volumes were up 351,000 to about 1 million lots while positions reduced 19,140 to 444,000.

SHFE nickel prices nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 min ago

Fed Governor Cook: Tackling Inflation Is Top Priority Amid Economic Uncertainty

Federal Reserve Governor Cook pointed out that bringing the inflation rate back to the target level in the near term is the top priority for the US Fed, which is crucial for maintaining its credibility. Cook also mentioned that the risk of a rise in inflation is currently prominent, and uncertainty in the economic outlook remains high.

1 min ago

ECB Keeps Interest Rates Steady, Hints at Unchanged Policy Amid Euro Strength Monitoring

The European Central Bank decided to maintain the current benchmark interest rate unchanged, marking the fifth consecutive pause in interest rate cuts since last June. Despite this, the bank has yet to provide clear guidance on the future path of monetary policy, further reinforcing market expectations that monetary policy will remain unchanged in the short term. Meanwhile, policymakers continue to monitor the appreciation of the euro, focusing on assessing its potential impact on the competitiveness of the export sector and inflation trends.

1 min ago

3 mins ago

CPIA Predicts Slowdown in China's PV Installations by 2026, MIIT Aims to Tackle Industry Competition

The China Photovoltaic Industry Association (CPIA) predicts that China's new PV installations are expected to pull back in 2026, ranging between 180 GW and 240 GW. During the 15th Five-Year Plan period, the average annual new PV installations are projected to reach 238 GW to 287 GW. Wang Shijiang, Deputy Director of the Electronic Information Department at the Ministry of Industry and Information Technology (MIIT), emphasized that the core task this year is to address the cut-throat competition in the PV industry.

3 mins ago