SHANGHAI, Jul. 20 (SMM) – SHFE 1709 nickel opened at RMB 78,980/mt today, and reached RMB 79,550/mt. In the afternoon, SHFE 1709 nickel followed rebar prices down, falling to RMB 78,540/mt, and closing at RMB 78,900/mt, down RMB 730/mt or 0.92%. Trading volumes on SHFE 1709 nickel decreased 15,600 to 398,000, and positions decreased 23,700 to 460,000. SHFE nickel is expected to hover weakly this evening.