SMM Nickel Market Morning Comment (May 8)

Published: May 8, 2024 09:52

Source: SMM

Save

On May 7, the most-traded SHFE nickel contract opened at 145,800 yuan/mt, and closed at 144,170 yuan/mt, down 870 yuan/mt compared with the last trading day.

On May 7, the most-traded SHFE nickel contract opened at 145,800 yuan/mt, and closed at 144,170 yuan/mt, down 870 yuan/mt compared with the last trading day. Trading volume increased by 99,180 lots to 221,659 lots, and open interest increased by 6,413 lots to 98,178 lots. The most-traded SHFE nickel contract fell sharply in a short period of time in the morning, and then fluctuated at a relatively stable range, with a final decrease of 0.01%.

Market 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 to learn 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

21 hours ago

[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.

Affected by macro sentiment, MHP and high-grade nickel matte prices declined this week.

21 hours ago

22 hours ago

[SMM Analysis] The market experienced panic selling this week, and nickel prices plummeted.

22 hours ago

Data: SHFE, DCE market movement (Feb 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Feb , 2026

22 hours ago