SMM Nickel Market Morning Comment (May 9)

On May 8, the most-traded SHFE nickel contract opened at 143,580 yuan/mt, and closed at 141,190 yuan/mt, down 2,980 yuan/mt compared with the last trading day. Trading volume increased by 7 lots to 221,666 lots, and open interest decreased by 153 lots to 98,025 lots. The most-traded SHFE nickel contract fell rapidly after opening, and then fluctuated at a relatively stable range, with the lowest at 140,650 yuan/ton and a final decrease of 2.84%.