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SHFE Nickel Prices down 5.49% (2017-3-9)
Mar 9, 2017 17:16Source:SMM
SHFE 1705 nickel opened at RMB 84,370/mt and closed at RMB 84,130/mt, down 5.49%.
SHANGHAI, Mar. 9 (SMM) – On Thursday, SHFE 1705 nickel opened at RMB 84,370/mt and then rallied slightly, up to as high as RMB 85,110/mt. Later, the contract dived to RMB 83,200/mt. During the afternoon trading, SHFE 1705 nickel fluctuated at lows and closed at RMB 84,130/mt, down 5.49%. Trading volumes were up 78,900 to 724,000 lots and positions were down 13,200 to 495,000. SHFE 1705 nickel declined below all the moving averages on Thursday with positions closing by longs.
The contract will be hard to rally on Thursday’s night trading and will remain weak.
SHFE nickel
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