SHFE Nickel Finishes with Small Losses (2017-4-17)

SHANGHAI, Apr. 17 (SMM) – SHFE 1704 nickel was delivered on Monday with positions at 132 and no trading volumes. The delivery volumes was 66 mt with settlement price at RMB 81,880/mt.

On Monday, SHFE 1709 nickel, the most actively traded one, opened at RMB 81,090/mt and then edged down with falling ferrous metals. During the afternoon trading, the contract dipped to RMB 80,270/mt and closed at RMB 80,690/mt, down RMB 740 or 0.91%. Trading volumes rose 3,672 to 444,000 lots and positions increase 8,112 to 478,000. Indonesia exported nickel ore stably, easing tight nickel ore supply in China.

SHFE 1709 nickel is expected to test support at RMB 80,000/mt in anticipation of negative fundamentals.