SHANGHAI, May 2 (SMM) – SHFE 1709 nickel opened at RMB 79,600/mt today, reaching RMB 80,470/mt. In the afternoon, SHFE 1709 nickel rolled back some gains and closed at RMB 80,030/mt, up RMB 1,450/mt or 1.85%.
Trading volumes on SHFE 1709 nickel decreased 297,000 to 206,000, and positions decreased 976 to 578,000. SHFE nickel to move at highs this evening as the market will continue to absorb output cut expectations at domestic NPI plants.
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