SHANGHAI, Mar. 21 (SMM) – LME nickel prices started at an intraday high of USD 16,345/mt on Thursday and dropped significantly as the US dollar index climbed, closing down USD 477/mt or 2.92% at USD 15,863/mt. Traded volumes fell by 58 lots to 6,051 lots, and positions dropped 28 lots to 197,376 lots. LME nickel stocks increased 11,508 mt to 283,434 mt despite the export ban imposed by the Indonesia, hurting market confidence.
On Friday, spot nickel prices in China are expected to be RMB 101,500-102,500/mt.