SHFE Nickel Finishes Higher (2017-4-6)

Published: Apr 6, 2017 17:40

Save

SHFE 1709 nickel opened at RMB 86,560/mt and ended at RMB 86,440/mt, up RMB 740/mt or 0.86%.

SHANGHAI, Apr. 6 (SMM) – On Thursday, SHFE 1709 nickel opened at RMB 86,560/mt and then dipped briefly with falling ferrous metals. During the afternoon trading, the contract climbed to RMB 86,660/mt thanks to entering of longs. SHFE 1709 nickel ended at RMB 86,440/mt, up RMB 740/mt or 0.86%. Trading volumes rose 120,000 to 284,000 lots and positions rose 31,000 to 406,000.

SHFE 1709 nickel will hover at highs on Thursday’s night trading with positive technical indicators and will fluctuate between RMB 86,000-87,000/mt.

SHFE nickel LME nickel nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

Nickel Ore Quota News Boosts Futures, High-Grade NPI Prices Rise Amid Weak Market Liquidity

[SMM Nickel Flash] February 11 — Supply side, amid the impact of nickel ore quota news, futures rose again, supporting firm market quotations. Demand side, against a backdrop of bullish sentiment, there was some restocking activity, but overall market liquidity remained weak. In summary, the pattern of poor market liquidity before the holiday remained unchanged; driven by futures and macro sentiment, high-grade NPI prices rose slightly.

10 hours ago

SMM 10-12% High-Grade NPI Price Rises to 1,043 Yuan/mtu, Market Sentiment Slightly Down

[SMM Nickel Flash] February 11 - SMM 10-12% high-grade NPI average price was 1,043 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 1.95, down 0.03 MoM; the upstream sentiment factor was 2.72, down 0.03 MoM; and the downstream sentiment factor was 1.17, down 0.03 MoM.

10 hours ago

11 hours ago

【SMM Nickel Flash News】PT Weda Bay Nickel's 2026 Quota Slashed to 12 Mwmt Amid Tightened RKAB Policy

According to Eramet's press release, PT Weda Bay Nickel (WBN) has received an initial notification from Indonesian authorities for a 2026 production and sales quota of just 12 Mwmt, a drastic reduction compared to the 32 Mwmt initially granted for 2025 and its later upward revision to 42 Mwmt. This significantly lower volume reflects the government's tightening of the Work Plan and Budget (RKAB) policy to manage market balance and sustainable resources. While WBN is currently adjusting its operations to minimize the impact on North Maluku's economy, the company plans to apply for an early revision to a higher volume to meet the high demand from smelters and HPAL facilities at the IWIP industrial park.

11 hours ago