SHFE Nickel Ends Up (2016-8-10)

Published: Aug 10, 2016 16:18

Save

SHFE 1701 nickel started at RMB 84,340/mt and widely ranged RMB 83,700-84,400/mt and closed the mid-day trading at RMB 83,770/mt. During the afternoon business, SHFE 1701 nickel dipped below the 5-day

SHANGHAI, Aug. 10 (SMM) – On Tuesday’s night trading, SHFE 1701 nickel opened lower at RMB 83,450/mt and dived below the 5-day moving average to RMB 83,130/mt. The contract later regained the lost ground and advanced to a high level of RMB 84,440/mt before ending at RMB 84,310/mt.

On Wednesday, SHFE 1701 nickel started at RMB 84,340/mt and widely ranged RMB 83,700-84,400/mt and closed the mid-day trading at RMB 83,770/mt. During the afternoon business, SHFE 1701 nickel dipped below the 5-day moving average with shorts gathering strength before closing at RMB 84,190/mt, up 0.14%. Trading volumes rose 38,000 to 747,000 lots and positions increased 6,240 to 575,000.

SHFE 1701 nickel should fluctuate at RMB 83,600-84,800/mt tonight with downward slowed down.

SHFE nickel prices LME nickel prices nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn