SHFE 1709 Nickel Closes with Gains (2017-7-17)

SHANGHAI, Jul. 17 (SMM) – Today is delivery date for SHFE 1707 nickel, with prices unchanged. Trading volumes were 12 lots, with settlement price of RMB 78,000/mt. Deliveries totaled 72 mt.

SHFE 1709 nickel opened at RMB 78,530/mt today, and then edged up. In the afternoon, SHFE 1709 nickel rose to RMB 79,520/mt at one point, and closed at RMB 79,150/mt, up RMB 2,510/mt or 3.28%. Trading volumes on SHFE 1709 nickel increased 201,000 to 607,000, and positions added 16,400 to 510,000. The price spread between SHFE 1709 nickel and SHFE 1801 nickel narrowly sharply to RMB 850-900/mt. SHFE nickel is expected to rise this evening.