SHANGHAI, Nov. 25 (SMM) – LME nickel prices overnight opened at USD 13,494/mt, with the high end of the price range USD 13,571/mt, and finding support at USD 13,451/mt. Finally, LME nickel prices closed at USD 13,512/mt, up USD 12/mt from the previous trading day. Trading volumes decreased by 129 lots, to 3,642 lots, and total positions increased by 3,709 lots, to 140,436 lots. Inventories grew by 588 mt, to 249,138 mt.
LME nickel prices hovered between USD 13,460-13,560/mt last Friday. Boosted by Germany's strong business climate index in November and due to a weakening US dollar index, LME nickel prices closed at USD 13,512/mt, up USD 12/mt.
LME nickel prices will move between USD 13,500-13,600/mt today, and nickel prices in Shanghai will move between RMB 94,200-95,200/mt.