SMM Morning Comment For Aluminium Market On August 15

SHANGHAI, Aug 15 (SMM) –

SHFE 2309 nickel contract opened at 163,000 yuan/mt at the night session on August 14, and closed at 164,710 yuan/mt, down 570 yuan/mt. Trading volume rose by 28,537 lots, and open interest increased by 3,723 lots.

The Indonesian nickel mine investigation may reduce the nickel ore supply, making the SHFE nickel prices rise since last Friday. On the fundamentals, due to price volatility and a slowdown of downstream purchases, yesterday’s nickel spot market transaction was not as good as last week. Overall, it is expected that the subsequent nickel price will shock downward.