SHFE 1709 Nickel Closes Higher (2017-6-26)

SHANGHAI, Jun. 26 (SMM) – SHFE 1709 nickel opened at RMB 75,210/mt today and reached RMB 75,460/mt. In the afternoon, SHFE 1709 nickel fell to RMB 74,920/mt but then rallied, and closed at RMB 75,340/mt, up RMB 430/mt or 0.57%. Trading volumes on SHFE 1709 nickel decreased 175,000 to 277,000, and positions decreased 17,894 to 517,000. Tsingshan’s 1 million mt/yr #300 stainless steel capacity in Morowali, Indonesia has commenced and will produce billet in June. Its output is expected to be 10,000-20,000 mt in July. Offshore yuan gainst the US dollar fell to a 1-month low. SHFE nickel is expected to fluctuate at highs this evening.