SMM

SHANGHAI, Jun 30 (SMM) –SHFE 2308 nickel contract opened at 155,370 yuan/mt overnight, and closed at 155,190 yuan/mt, down 2,720 yuan/mt. Trading volume increased by 50,026 lots, and open interest increased by 9,405 lots. The central banks in the US, Europe and Japan all sent hawkish signals. The yuan exchange rate rose to above 7.26 per US dollar in the offshore market. The Chinese economic recovery undershot forecasts. Inquiries for Jinchuan nickel increased. Macro headwinds will prevent leave nickel prices from rising.