SHFE nickel price losing steam after a three-year high

The most-traded July nickel contract on Shanghai Futures Exchange (SHFE) has lost the steam, closing at Yuan 108,190/tonne ($17,173/t) on May 24, or down Yuan 2,050/t or 1.9% from a three-year high at Yuan 110,240/t on May 18 as nickel supply has seen increasing.