SHANGHAI, Oct. 27 (SMM) – LME nickel prices last Friday opened at USD 15,230/mt, then hovered around USD 15,200/mt during Asian trading hours, but fell during European trading hours. LME nickel inventories grew 594 to 378,100 mt as of October 24, pushing down LME nickel prices below USD 15,000/mt, but rallying later to claw back early losses. Trading volumes decreased 806 to 2,788 lots, and total positions were down 435 to 208,800 lots. The opening of LME trading is delayed to 9:00 am.
LME nickel prices are expected to fall below RMB 15,000/mt today, and spot nickel prices in Shanghai will move between RMB 101,000-102,500/mt.