SHFE 1701 Nickel Trades Down (2016-8-5)

Aug 5, 2016 17:43

SHFE 1701 nickel started at RMB 81,600/mt last night and ended at RMB 82,960/mt.

SHANGHAI, Aug. 5 (SMM) – SHFE 1701 nickel started at RMB 81,600/mt last night and ended at RMB 82,960/mt.

SHFE 1701 nickel opened at RMB 83,000/mt on Friday and met resistance at the 20-day moving average. In the afternoon business, the price grew to RMB 83,200/mt before closing 0.08% lower at RMB 82,970/mt. Trading volumes dropped 104,000 to 692,000 lots and positions rose 35,000 to 514,000.

SHFE 1701 nickel may move above RMB 82,00/mt tonight.

SHFE nickel prices

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SHFE 1701 Nickel Trades Down (2016-8-5)

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