SHANGHAI, Dec. 27 (SMM) – On Tuesday, SHFE 1705 nickel opened at RMB 84,320/mt. Profits growth at China’s above-scale industrial enterprises released on Tuesday increased sharply in November, hitting the year’s second highest level, a further sign of positive enterprise effect. SHFE 1705 nickel climbed slightly after opening and then moved above the moving average. During the afternoon trading, SHFE 1705 nickel fluctuated firmly and finally ended at RMB 85,550/mt, down 1.38%. Trading volumes fell 437,000 to 486,000 lots and positions dropped 19,000 to 528,000. SHFE 1705 nickel closed higher on Tuesday but was still far away from the moving average.
SHFE 1705 nickel will fluctuate at lows on Tuesday’s night trading.
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn