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SMM Nickel Market Morning Review (2014-8-13)
Aug 13, 2014 10:09Source:SMM
LME nickel prices opened at USD 18,676/mt overnight, with the high end of the price range USD 19,050/mt, and finding support at USD 18,655/mt.
SHANGHAI, Aug. 13 (SMM) – LME nickel prices opened at USD 18,676/mt overnight, with the high end of the price range USD 19,050/mt, and finding support at USD 18,655/mt. Finally, LME nickel prices closed at USD 18,806/mt, up USD 86/mt from the previous trading day. Trading volumes increased by 1,224 to 3,842 lots and total positions decreased by 2,789 to 202,954 lots. LME nickel inventories grew 840 to 319,590 mt.
LME nickel prices opened at USD 18,676/mt yesterday, then fluctuated around USD 18,700/mt during Asian trading hours, touching as high as USD 19,050/mt, and closing the day up 0.46% at USD 18,806/mt.
China will release fixed asset and property investment today, which is optimistic. LME nickel prices are expected to hover between USD 18,500-19,000/mt today, and spot nickel prices in Shanghai will hover between RMB 129,500-131,500/mt.
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