SHFE 1609 Nickel Ends Up 2.76% (2016-4-22)

Apr 22, 2016 20:12

On Thursday’s night trading, SHFE 1609 nickel fell from RMB 75,100/mt to RMB 70,500/mt following news that the SHFE and DCE would raise ferrous metals transaction fees.

SHANGHAI, Apr. 22 (SMM) – On Thursday’s night trading, SHFE 1609 nickel fell from RMB 75,100/mt to RMB 70,500/mt following news that the SHFE and DCE would raise ferrous metals transaction fees. The contract closed at RMB 71,700/mt.

On Friday, SHFE 1609 nickel started at RMB 71,800/mt. Plunging rebar and iron ore prices caused market to panic. But SHFE 1609 nickel then moved higher on rising LME nickel, ending up 2.76% from previous day at RMB 71,810/mt. Trading volumes were down 47,876 lots to 1.46 million lots, and positions were down 43,020 to 558,000. With fading market panic, SHFE 1609 nickel should see a small rise.

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SHFE nickel prices

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SHFE 1609 Nickel Ends Up 2.76% (2016-4-22)

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