SHFE 1709 Nickel Finishes Higher (2017-6-7)-Shanghai Metals Market

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SHFE 1709 Nickel Finishes Higher (2017-6-7)

Price Review & Forecast 05:42:39PM Jun 07, 2017 Source:SMM

SHANGHAI, Jun. 7 (SMM) – SHFE 1709 nickel opened at RMB 73,330/mt today, and then rebounded to RMB 73,730/mt and closed at RMB 73,480/mt, up RMB 370/mt or 0.51%. Trading volumes on SHFE 1709 nickel increased 119,000 to 375,000, and positions decreased 7,288 to 527,000. Among SHFE base metals, only nickel strengthened today, which is expected to have been a result of restart at Jiangsu Delong Nickel’s stainless steel facility. SHFE nickel is expected to strengthen this evening. 

SHFE 1709 Nickel Finishes Higher (2017-6-7)

Price Review & Forecast 05:42:39PM Jun 07, 2017 Source:SMM

SHANGHAI, Jun. 7 (SMM) – SHFE 1709 nickel opened at RMB 73,330/mt today, and then rebounded to RMB 73,730/mt and closed at RMB 73,480/mt, up RMB 370/mt or 0.51%. Trading volumes on SHFE 1709 nickel increased 119,000 to 375,000, and positions decreased 7,288 to 527,000. Among SHFE base metals, only nickel strengthened today, which is expected to have been a result of restart at Jiangsu Delong Nickel’s stainless steel facility. SHFE nickel is expected to strengthen this evening.