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SMM Nickel Market Morning Review (2013-10-9)
Oct 9, 2013 10:54Source:SMM
LME nickel prices overnight opened at USD 13,960/mt, with the high end of the price range USD 14,000/mt, and finding support at USD 13,845/mt.
SHANGHAI, Oct. 9 (SMM) – LME nickel prices overnight opened at USD 13,960/mt, with the high end of the price range USD 14,000/mt, and finding support at USD 13,845/mt. Finally, LME nickel prices closed at USD 13,880/mt, down USD 18/mt from the previous trading day. Trading volumes decreased by 762 lots, to 1,924 lots, and total positions decreased by 532 lots, to 133,576 lots. Inventories grew by 138 mt, to 228,066 mt.
LME nickel prices remained sluggish amid US government shutdown and debt crisis, with trading volumes decreasing.
LME nickel prices will hover between USD 13,780-13,880/mt today, and Wuxi November nickel contract prices in Shanghai will open at RMB 96.5/kg, with prices between RMB 96,600-97,700/mt.
LME nickel prices
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