SHANGHAI, Jun. 8 (SMM) – SHFE 1509 nickel started last Friday night at RMB 98,730/mt and soared to RMB 99,650/mt in response to growing LME nickel, to end the session up 1.13% at RMB 99,520/mt.
The September-delivery nickel opened at RMB 99,520/mt during morning session Monday and advanced above RMB 100,000/mt following a rise in LME nickel, to finish the day at RMB 100,540/mt, growing 1.77%. Positions rose 13,950 to 217,000 with trading volumes up 144,000 to 494,000 lots.
SHFE 1509 nickel should edge below RMB 100,000/mt this evening with LME nickel falling during European trading hours.