Daily SHFE Nickel Price Review And Forecast 

SHANGHAI, Jul 25 (SMM) – SHFE 2308 nickel contract opened at 169,040 yuan/mt overnight, and closed at 168,910 yuan/mt, down 1620 yuan/mt. Trading volume increased by 10397 lots, and open interest decreased by 4447 lots. From a macro point of view, due to the limited economic recovery in the second quarter, combined with market expectations that the Federal Reserve will raise interest rates in July, SHFE nickel fell yesterday. From the perspective of demand, high nickel prices dented downstream buying appetite. To sum up, it is expected that the subsequent nickel price may show a volatile trend.