SHFE 1709 Nickel Closes Higher (2017-5-17)

SHANGHAI, May 17 (SMM) – SHFE 1709 nickel opened at RMB 76,500/mt today, and inched down to RMB 76,400/mt as longs exited the market with profit-taking. In the afternoon, SHFE 1709 nickel rose to as high as RMB 77,270/mt and closed at RMB 76,870/mt, up RMB 110/mt or 0.14%. Trading volumes on SHFE 1709 nickel decreased 44,000 to 423,000, and positions increased 342 to 562,000. Eurozone April final CPI is due for release this evening. SHFE nickel is expected to consolidate at lows this evening.