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SMM Nickel Market Morning Review

Release time:2014-11-20

 Nov 20, 2014 01:31 GMT   Source:SMM

Tags: nickel prices

 

SHANGHAI, Nov. 20 (SMM) – LME nickel prices overnight opened at USD 15,620/mt overnight, then fluctuated between USD 15,620-15,700/mt. During European trading, LME nickel prices dipped to USD 15625/mt, but rallying to USD 15820/mt around 4:00 pm. During US trading, LME nickel prices surged and touched USD 16,294/mt, and closed at USD 16,095/mt, up USD 2.91%. Trading volumes increased 2,506 to 6,460 lots, and total positions were down 2,720 to 207,447 lots. LME nickel inventories grew 234 to 390,432 mt.

LME nickel prices are expected to rise further today today, and spot nickel prices in Shanghai will move between RMB 110,000-112,000/mt.