SHANGHAI, Jul. 18 (SMM) – SHFE 1709 nickel opened at RMB 79,310/mt today, and reached RMB 79650/mt in the morning. In the afternoon, SHFE 1709 nickel followed rebar prices down, falling to RMB 78,500/mt, and closing at RMB 78,970/mt, up RMB 550/mt or 0.70%. Trading volumes on SHFE 1709 nickel decreased 164,000 to 443,000, and positions decreased 17,492 to 492,000. SHFE nickel is expected to remain range-bound this evening.