SHANGHAI, Mar. 9 (SMM) – SHFE 1605 nickel started at RMB 71,900/mt for night trading Tuesday and then hit and closed at the daily downside limit at RMB 68,680/mt.
The May-delivery nickel on SHFE opened Wednesday trading session at RMB 68,680/mt and once advanced to RMB 69,790/mt after meeting resistance at RMB 70,000/mt, to close 3.33% lower at RMB 69,280/mt. Trading volumes decreased 643,000 to 1.18 million lots and positions registered a loss of 49,290 to 393,000.
Little downward room is in sight for SHFE 1605 nickel in near future. The contract ill stabilize after returning to previous level.