SHFE 1709 Nickel Finishes Lower (2017-8-1)

Published: Aug 1, 2017 19:28

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SHFE 1709 nickel opened at RMB 82,960/mt today and stabilized after falling to RMB 81,530/mt.

SHANGHAI, Aug. 1 (SMM) – SHFE 1709 nickel opened at RMB 82,960/mt today and stabilized after falling to RMB 81,530/mt. In the afternoon, the US dollar index rebounded. SHFE 1709 nickel followed rebar and iron ore, falling and then rallying slightly, and closed at RMB 81,970/mt, down RMB 1,130/mt or 1.36%. Trading volumes on SHFE 1709 nickel decreased 58,000 to 376,000, and positions decreased 22,400 to 312,000. SHFE nickel is expected to weaken this evening. ISM July manufacturing index for the US will be released this evening.

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