SHFE 1709 Nickel Closed higher (2017-5-9)

Published: May 09, 2017 17:22 (GMT+8)

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SHFE 1709 nickel opened at RMB 76,380/mt today, and dipped to RMB 76,050/mt as longs left the market after profit-taking.

SHANGHAI, May 9 (SMM) – SHFE 1709 nickel opened at RMB 76,380/mt today, and dipped to RMB 76,050/mt as longs left the market after profit-taking. Prices then rallied and met resistance from RMB 76,580/mt. In the afternoon, crude oil rose. SHFE 1709 nickel moved above moving average, and closed at RMB 76,490/mt, up RMB 530/mt or 0.70%.

Trading volumes on SHFE 1709 nickel decreased 209,000 to 306,000, and positions decreased 6,880 to 569,000. SHFE nickel is expected to hover at highs this evening.

nickel prices LME nickel prices SHFE nickel prices

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