SHANGHAI, Apr. 14 (SMM) – SHFE 1609 nickel rose to RMB 71,390/mt after opening at RMB 70,800/mt during Wednesday’s night session. But the contract then fell back to close at RMB 70,940/mt.
On Thursday, SHFE 1609 nickel opened at RMB 70,880/mt, and briefly dropped to RMB 70,260/mt in the afternoon. However, the most active contract rallied later in the day, ending up RMB 0.64% at RMB 70,710/mt. Trading volumes were down 549,000 lots to 763,000 lots, and positions were up 17,320 to 491,000. Positive news is fading, so shorts returned at highs.