SMM, 6 May:
Today's Shanghai Nickel, due to the low level of Lunni during the holidays, today's Shanghai Nickel 2007 contract jumped short and opened low. The morning market opened at 98960 yuan / ton, and shortly after the opening of the session, it was suppressed and dropped to near the 20-day moving average of 98000 yuan / ton, with a minimum of 97800 yuan / ton. After being supported in this position, Shanghai nickel rebounded to 99600 yuan / ton in the second trading session of the morning market. At the opening of the afternoon, Shanghai nickel again showed strong momentum, bulls have increased their positions one after another, nickel prices turned red from green to 101660 yuan / ton, closing at 101350 yuan / ton, up 720 yuan / ton, up 0.72%. Daily trading volume increased by 130000 hands to 357000 hands, position increased by 20980 hands to 79814 hands. Today, Shanghai nickel first suppressed and then raised, although the opening is slightly weak, but at the same time stainless steel morning market has opened high, which gave the bulls the confidence to greatly increase their positions. At present, Shanghai nickel returns to the platform above the 100000 before the festival, which is still wound by many averages in the short term. Shanghai Nickel resumed at night today, focusing on the guidance on changes in long positions in the evening.
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