SMM Nickel Market Morning Review (2013-10-22)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Alumina
  • Aluminium
  • Steel
  • Copper scrap
  • Copper
  • Market commentary
  • Futures movement
  • Morning comments
  • Lead
  • Evening comments
  • price
  • price forecast
  • Stainless steel
  • Nickel

SMM Nickel Market Morning Review (2013-10-22)

Price Review & Forecast 09:43:05AM Oct 22, 2013 Source:SMM

SHANGHAI, Oct. 22 (SMM) – LME nickel prices overnight opened at USD 14,193/mt, with the high end of the price range USD 14,500/mt, and finding support at USD 14,183/mt. Finally, LME nickel prices closed at USD 14,450/mt, up USD 240/mt from the previous trading day. Trading volumes increased by 493 lots, to 4,522 lots, and total positions increased by 1,139 lots, to 138,542 lots. Inventories grew by 720 mt, to 230,760 mt.

China's positive economic data lent support to LME nickel prices. Sluggish economy helped erase concerns over QE3 wind-down. LME nickel prices opened at USD 14,193/mt, reaching USD 14,500/mt and finally closing the day up USD 240/mt.

LME nickel prices will hover between USD 14,400-14,500/mt today, and nickel prices in Shanghai will move between RMB 99,000-100,000/mt.
 

Key Words:  LME nickel prices 

SMM Nickel Market Morning Review (2013-10-22)

Price Review & Forecast 09:43:05AM Oct 22, 2013 Source:SMM

SHANGHAI, Oct. 22 (SMM) – LME nickel prices overnight opened at USD 14,193/mt, with the high end of the price range USD 14,500/mt, and finding support at USD 14,183/mt. Finally, LME nickel prices closed at USD 14,450/mt, up USD 240/mt from the previous trading day. Trading volumes increased by 493 lots, to 4,522 lots, and total positions increased by 1,139 lots, to 138,542 lots. Inventories grew by 720 mt, to 230,760 mt.

China's positive economic data lent support to LME nickel prices. Sluggish economy helped erase concerns over QE3 wind-down. LME nickel prices opened at USD 14,193/mt, reaching USD 14,500/mt and finally closing the day up USD 240/mt.

LME nickel prices will hover between USD 14,400-14,500/mt today, and nickel prices in Shanghai will move between RMB 99,000-100,000/mt.
 

Key Words:  LME nickel prices