SMM Nickel Market Morning Comment (Apr 11)

On Wednesday, the most-traded SHFE nickel contract opened at 138,500 yuan/mt, and closed at 139,680 yuan/mt, up 2,590 yuan/mt compared with the last trading day. Trading volume increased by 50,757 lots to 273,596 lots, and open interest decreased by 4,150 lots to 81,592 lots. The most-traded SHFE nickel contract fluctuated sideways after initial slight drop. In the afternoon, it fell sharply to the lowest at 137,950 yuan/mt, and then rebounded, with the final increase of 1.93%.