SMM Morning Comment For Nickel Market On December 13

SHANGHAI, December 13 (SMM) –

Overnight, the most-traded SHFE nickel contract opened at 131090 yuan/mt, and closed at 131800 yuan/mt, down 260 yuan/mt. Trading volume fell by 51978 lots, and open interest decreased by 1883 lots. From a fundamental perspective, the supply of pure nickel has declined slightly, but downstream demand for pure nickel is limited. Nickel price is expected to move rangebound, with little upward momentum.