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Home / Metal News / SHFE Nickel Closes Lower (2016-12-29)

SHFE Nickel Closes Lower (2016-12-29)

iconDec 29, 2016 17:05
Source:SMM
SHFE 1705 nickel opened at RMB 85,920/mt and finally closed at RMB 86,350/mt, down 0.01%.

SHANGHAI, Dec. 29 (SMM) – SHFE 1705 nickel opened at RMB 85,920/mt and then fluctuated between RMB 85,600-86,250/mt. During the afternoon trading, SHFE 1705 nickel moved firmly and increased slightly. The contract finally closed at RMB 86,350/mt, down 0.01%. Trading volumes fell 97,000 to 467,000 lots and positions dropped 6,000 to 533,000. Apemindo requested government to import at least 2,000 mt of low-grade ore per year for three to five years, but the policy is unclear for the future. Philippine will publish mine audit results next week. But closure of mines will not make effect on nickel ore supply.

SHFE 1705 nickel will fluctuate at lows on Thursday’s night trading.

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