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SMM Morning Review - 2010/9/19 Nickel Market
Sep 19,2010 11:09CST
smm insight
Source:SMM

SHANGHAI, Sep. 19 (SMM) -- Last Friday, LME nickel prices opened at USD 23,170/mt and closed at USD 23,264/mt, down by USD 73/mt from a day earlier, with the highest price at USD 23,570/mt ant the lowest price at USD 23,161/mt. Daily trading volumes were 1,815 lots and positions were 94,310 lots. LME nickel inventories were up by 348 mt to 119,412 mt.

LME base metals mostly ended with gains, but pared gains made earlier in the day as the euro eased against the U.S. dollar. Supported by China’s reduced NPI output due to government crackdown on energy conservation and emission reduction and from improved demand in the European stainless steel sector, LME nickel prices were firm.

 

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