I love the technical term... 'lurched up to ...' :) Large...

I love the technical term... 'lurched up to ...'

Large volumes should be a good indication that the price increase isnt a once off

Its interesting that the July future is another 3% higher ... anyone got any ideas as to why.. its only a 8 weeks away

SHFE 1507 Nickel up 4.94% (Apr. 30, 2015)

Apr 30, 2015 10:47 GMT Source:SMM
Tags: nickel, nickel prices, nickel price


SHANGHAI, Apr. 30 (SMM) –The most active SHFE 1507 nickel opened Wednesday’s evening session at RMB 101,190/mt and then lurched up to RMB 103,530/mt. The most active contract closed at RMB 103,260/mt. Trading volumes climbed 84,438 to 235,044 lots and total positions rose 8,104 to 119,438.

SHFE 1507 nickel opened at RMB 103,340/mt Thursday morning and followed LME nickel up to RMB 106,980/mt in the after noon business. Later the July delivery nickel rolled back its early gains to end at RMB 106,010/mt, up 4.94%, another high since its launch, an indication of strong bulls. Trading volumes surged 235,000 to 553,000 lots, and positions climbed 14,653 to 126,000.
Source: http://www.metal.com/newscontent/72519_shfe-1507-nickel-up-4.94-apr.-30-2015