SHFE Nickel Jumps 3.55% (May 3, 2016)

SHANGHAI, May 3 (SMM) – SHFE market was closed on Monday for May Day holiday.

SHFE 1609 nickel started at RMB 73,290/mt on Tuesday and dipped to RMB 72,700/mt. The contract later ranged RMB 73,350-73,850/mt and grew to RMB 76,200/mt in the afternoon business owing to gains in Chinese stock market and weaker dollar, to end 3.55% higher at RMB 75,940/mt. Trading volumes were down 91,602 to 863,000 lots and positions grew 59,346 to 653,000.