[SMM Nickel brief Review] Shanghai Nickel High shock record "V" trend 07 contract delivery market focus on the main monthly position

Published: Jul 15, 2020 17:17

Save

SMM, July 15:

The main contract of Shanghai Nickel 2010 opened high at 108840 yuan / ton in daily trading today. After a brief shock after opening, it gradually fell to 108400 yuan / ton. In the second trading session of the morning market, Shanghai Nickel fell as low as 107720 yuan / ton. Supported by the 5-day moving average, Shanghai Nickel quickly rebounded to 108800 yuan / ton. In the afternoon, Shanghai Nickel briefly stood on the first line of 109000 yuan / ton, and then the bulls stopped their earnings and left the market one after another. Shanghai Nickel finally closed at 108570 yuan / ton, down 450yuan / ton, or 0.41%. The trading volume was 691219 lots, and the position decreased by 4609 lots to 145344 lots. Today, the domestic Shanghai and Shenzhen stock markets pullback, capital boost confidence blocked, so Shanghai nickel high consolidation. At night, we should pay attention to the change of the main position and be cautious about the price fluctuation caused by the long position.

In addition, today's 07 contract delivery closed at 107850 yuan / ton, the settlement price was 107870 yuan / ton, the position was 9780 lots, and the delivery volume was 9780 tons.

"Click to view SMM exclusive historical price data

Big data business contact:

Shanghai Nickel Futures Nickel Price SMM brief Review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

Data: SHFE, DCE market movement (Sep 17)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 17 Sep , 2026

5 hours ago

8 hours ago

SMM #1 Refined Nickel Price Up 2,200 Yuan/mt to 125,400 Yuan/mt on September 17

On September 17, the average price of SMM #1 refined nickel was 125,400 yuan/mt, up 2,200 yuan/mt from the previous trading day. In terms of spot premiums, the average premium for Jinchuan #1 refined nickel was 4,250 yuan/mt, up 400 yuan/mt from the previous trading day, while mainstream domestic brands of electrodeposited nickel ranged from 0 to 500 yuan/mt.

8 hours ago

10 hours ago

[SMM Nickel Flash News] Indonesia Update — September 17, 2026

Indonesian nickel ore CIF average prices edged down across the main grades: · 1.2% Ni: CIF average price at $27/wmt, unchanged · 1.4% Ni: CIF average price at $51.8/wmt, down $0.6/wmt · 1.5% Ni: CIF average price at $58.5/wmt, down $0.3/wmt · 1.6% Ni: CIF average price at $63.4/wmt, down $0.5/wmt The Indonesian nickel ore market remains in a wait-and-see period, with the market monitoring further RKAB approvals and potential quota adjustments. Meanwhile, Indonesia's Ministry of Energy and Mineral Resources (ESDM) has revised the nickel ore HPM formula under Kepmen ESDM No. 363.K/MB.01/MEM.B/2026, effective September 15. The revision mainly lowers the corrective factor for low-grade nickel ore, significantly reducing the HPM benchmark for low-grade limonite and bringing it closer to prevailing market prices. The revised formula puts the HPM for 1.2% Ni ore at around $24.89/wmt, down about 45% from the previous level. The government said the revision aims to make nickel ore feedstock more economical for smelters, while its impact will continue to be evaluated.

10 hours ago