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SMM News on February 20th: On February 20th, the main contract for Shanghai nickel opened at 126,850 yuan/ton and closed at 126,570 yuan/ton, an increase of 670 yuan/ton compared to the previous trading day's closing price. Trading within the day was stronger compared to the previous trading day, with a volume increase of 45,503 lots and a decrease in open interest of 3,811 lots. This combination indicates that the bears actively closed positions, but trading volume increased. If this phenomenon occurs at the bottom, the characteristic often seen on the market surface is a slight upward trend because the price has fallen to the bottom, the bearish sentiment is relatively good, and the bullish sentiment is weak, and the price will not immediately rise. ....
Global energy and commodity price reporting agency Argus is launching a new suite of price assessments for Indonesian nickel exports, increasing price transparency for the fastest growing region in the world for the nickel market. In collaboration with PT Indeks Komoditas Indonesia (PT IKI), Argus will publish prices for three grades of Class II nickel and intermediate products as part of the Indonesian Nickel Index (INI) series. ....