SHANGHAI, Nov. 25 (SMM) – On Thursday’s night trading, SHFE 1701 nickel started at RMB 94,690/mt and then climbed to RMB 96,250/mt before fluctuating at around the moving average. The contract finally closed at RMB 95,160/mt.
On Friday, SHFE 1701 nickel opened at RMB 95,160/mt and then fell to RMB 93,750/mt before rebounding. During the afternoon trading, SHFE 1701 nickel ranged between RMB 94,800-95,500/mt and finally closed at RMB 95,200/mt, up 0.54%. Trading volumes fell 300,000 to 530,000 lots and positions dropped 30,000 to 290,000.
SHFE 1701 nickel will move at RMB 94,500-96,000/mt on Friday’s night trading with positive technical indicators.