SHANGHAI, February 21 (SMM) – SHFE nickel opened at 126850 yuan/mt overnight and closed at 126570 yuan/mt, down 670 yuan per mt. Trading volume rose 45503 lots and open interest fell 3811 lots. Due to slower than expected drop in US core CPI, expectations for rate cuts cooled. Spot market activities were still limited as many enterprises have not yet fully resumed production. Nickel prices may swing on a soft note.



