SHFE 1709 Nickel Closed higher (2017-5-8)

Published: May 8, 2017 19:25

Save

SHFE 1709 nickel opened at RMB 76,710/mt today, and stabilized around RMB 75,330/mt. In the afternoon, SHFE 1709 nickel met resistance from RMB 76,350/mt, and closed at RMB 75,730/mt, up RMB 290/mt or

SHANGHAI, May 8 (SMM) – SHFE 1709 nickel opened at RMB 76,710/mt today, and stabilized around RMB 75,330/mt. In the afternoon, SHFE 1709 nickel met resistance from RMB 76,350/mt, and closed at RMB 75,730/mt, up RMB 290/mt or 0.38%.

Trading volumes on SHFE 1709 nickel increased 58,400 to 516,000, and positions decreased 19,200 to 576,000. China’s import and export data in April fell sharply. Positive news has been totally released after French presidential election. If US April LMCI turns out to be upbeat, the US dollar will receive a boost. SHFE nickel is expected to hover at lows this evening.

nickel prices LME nickel prices SHFE 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

17 hours ago

[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.

Affected by macro sentiment, MHP and high-grade nickel matte prices declined this week.

17 hours ago

18 hours ago

[SMM Analysis] The market experienced panic selling this week, and nickel prices plummeted.

18 hours ago

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

18 hours ago