SHFE Nickel Prices Up 0.46% (2016-12-15)

Published: Dec 15, 2016 16:50

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SHFE 1705 nickel started at RMB 96,150/mt and finally closed at RMB 96,130/mt, up 0.46%.

SHANGHAI, Dec. 15 (SMM) – On Wednesday’s night trading, SHFE 1705 nickel opened at RMB 96,390/mt and then dived to RMB 94,640/mt with a large amount of positions closing by longs. The contract later regained previous lost ground and rallied to above the moving average before closing at RMB 96,120/mt.

On Thursday, SHFE 1705 nickel started at RMB 96,150/mt. US dollar index rose significantly and Chinese yuan dropped after US Federal Reserve hiked interest rate in December’s meeting. SHFE 1705 nickel advanced to RMB 97,140/mt and then dropped back below the moving average. During the afternoon trading, SHFE 1705 nickel ranged between RMB 96,000-96,400/mt and finally closed at RMB 96,130/mt, up 0.46%. Trading volumes reduced 38,000 to 764,000 lots and positions fell 8,400 to 532,000.

SHFE 1705 nickel will keep hovering at highs on Thursday’s night trading with strong support.

SHFE nickel LME nickel nickel prices

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