SMM Morning Comment For Nickel Market On September 6

SHANGHAI, Sep 6(SMM) – The most traded SHFE nickel contract opened at 170,000 yuan/mt and closed at 171,800 yuan/mt at the night session on September 5, an increase of 1,090 yuan/mt from the previous trading day. The trading volume increased by 89,475 lots and the open interest decreased by 1,426 lots respectively. Due to positive market sentiment promoted by US macro data and tight supply of raw materials, nickel price fluctuated upwards yesterday. In terms of fundamentals, trades in spot market remained thin and downstream demand was sluggish. In summary, nickel prices may be volatile in the future.