SHANGHAI, Sep 8(SMM) – The most traded SHFE nickel contract opened at 170,210 yuan/mt and closed at 167,620 yuan/mt at the night session on September 7, a decrease of 4,240 yuan/mt from the previous trading day. The trading volume increased by 44,577 lots and the open interest decreased by 2,786 lots. On the macro front, the high inflation data brought about by the higher-than-expected US services PMI persuaded the market to believe that the Fed will raise interest rates, sending down commodities prices yesterday. Trades in spot market remained thin and downstream demand was sluggish. In summary, nickel prices may be volatile in the future.



