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SHFE Ni prices up, demand recovers before CNY

The most traded nickel contract on the Shanghai Futures Exchange gained Yuan 1,160/tonne ($171.4/t) or 1.3% on day to end the daytime session on January 16 at Yuan 93,230/t, exchange data show.
Market sources attributed the increase to the recovery of consumer demand but the continuous rise in nickel prices on the London Metal Exchange also lent support to the climb in SHFE nickel prices, they said. As of Tuesday, the settlement cash price for LME nickel had increased for nine successive

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