SHFE 1609 Nickel Experiences Roller Coaster Ride (2016-4-18)

SHANGHAI, Apr. 18 (SMM) – SHFE 1609 nickel dived to RMB 69,530/mt after opening at RMB 70,330/mt during last Friday’s night session. The most active contract rallied later and ended the night session at RMB 70,320/mt. 

On Monday, SHFE 1609 nickel followed crude oil down to RMB 70,020/mt. But prices then rebounded as ferrous metals prices strengthened on positive China property market data. Finally, the most active contract ended down 0.85% at RMB 70,840/mt. Trading volumes were down 43,184 lots to 789,000 lots, and positions were up 13,126 to 522,000.