SHFE Nickel ​Ends Lower (2016-8-15)

SHANGHAI, Aug. 15 (SMM) – On last Friday’s night trading, SHFE 1701 nickel opened lower at RMB 82,080/mt and then ranged between RMB 82,000-82,500/mt. The contract dived again to a session-low of RMB 80,520/mt due to entering of shorts. SHFE 1701 nickel finally closed at RMB 80,620/mt.

On Monday, SHFE 1701 nickel started at RMB 80,710/mt and then posted gains. During the afternoon business, SHFE 1701 nickel fluctuated at RMB 81,200-81,600/mt and ended at RMB 80,850/mt, down 2.91%. Trading volumes rose 234,000 to 984,000 lots and positions increased 14,000 to 611,000. SHFE 1701 nickel is expected to range between RMB 80,000-82,000/mt tonight with negative technical indicators and weak economy figures in China.

Today is the last trading day for SHFE 1608 nickel with traded prices at RMB 79,050/mt and settlement prices down 2.41% to RMB 79,050/mt. Trading volumes were up 12 to 648 lots and positions stayed unchanged at 12. A total of 324 mt of nickel was delivered today.