SMM Morning Review - 2012/4/6 Nickel Market

Apr 6, 2012 10:35

LME nickel prices overnight opened at USD 17,800/mt, with the high end USD 18,400/mt, and the low end USD 17,668/mt, with prices finally closing at USD 18,306/mt.

SHANGHAI, Apr. 6 (SMM) – LME nickel prices overnight opened at USD 17,800/mt, with the high end USD 18,400/mt, and the low end USD 17,668/mt, with prices finally closing at USD 18,306/mt, up USD 341/mt. Trading volumes were 2,752 lots, up 1,060 lots, and positions increased by 1,458 lots to 106,401 lots. Inventories were 100,148 mt, down 468 mt.
LME nickel prices generally fluctuated narrowly during Asian trading hours, and rose with domestic equity markets. Despite Italian and Spanish government bond yields surged, US jobless claims data boosted market confidence. As a result, LME nickel prices surged to USD 18,400/mt, and finally closed at USD 18,306/mt. Spot nickel prices should move between RMB 131,000-135,000/mt today.

LME nickel prices

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SMM Morning Review - 2012/4/6 Nickel Market

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