SHANGHAI, Mar. 18 (SMM) – SHFE 1605 lead started at RMB 13,685/mt overnight and moved at highs of RMB 13,665-13,755/mt, to end at RMB 13,720/mt, up RMB 155/mt or 1.14%.
SHFE lead advanced to RMB 13,790 on Friday and found support at the 20-day moving average after falling back, to close at RMB 13,630/mt, up RMB 65/mt or 0.48%. Trading volumes were up 4,378 to 12,836 lots and positions were up 118 to 18,482.
SHFE 1605 nickel will likely drop below the 20-day moving average tonight.