SHANGHAI, Jul. 4 (SMM) – SHFE 1709 nickel opened at RMB 76,710/mt today, and touched RMB 76,730/mt. SHFE 1709 nickel then fell further to RMB 74,910/mt, and closed at RMB 75,200/mt, down RMB 1,810/mt or 2.35%. Trading volumes on SHFE 1709 nickel increased 85,000 to 418,000, and positions decreased 16,522 to 482,000. SHFE nickel is expected to remain range-bound this evening.