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SMM Nickel Market Morning Review

Release time:2014-11-18

Nov 18, 2014 01:40 GMT   Source:SMM

Tags: nickel prices

 

SHANGHAI, Nov. 18 (SMM) – LME nickel prices overnight opened at USD 15,544/mt overnight, then touching as high as USD 15,690/mt during Asian trading, but transactions were quiet. During European trading, LME nickel prices rolled back early gains, falling to USD 15,544/mt before rallying later, reaching as high as USD 15,795/mt, and closed the day at USD 15,789/mt, up USD 1.31%. Trading volumes decreased 553 to 2,829 lots, and total positions were down 1,332 to 211,800 lots. LME nickel inventories grew 396 to 389,800 mt.

LME nickel prices are expected to rise further today, and spot nickel prices in Shanghai will move between RMB 106,500-108,000/mt.