SMM Nickel Market Morning Comment (May 16)

On May 15, the most-traded SHFE nickel contract opened at 144,460 yuan/mt, and closed at 144,380 yuan/mt, down 80 yuan/mt compared with the last trading day. Trading volume increased by 16,653 lots to 215,865 lots, and open interest decreased by 1,431 lots to 78,586 lots. The most-traded SHFE nickel contract fell rapidly to the lowest at 142,280 yuan/mt after opening and then rose. In the afternoon, it reached the highest point before falling, with a final decrease of 0.03%.