SMM Nickel Market Morning Review (2015-2-26)

Feb 26, 2015 09:46

Source:SMM

LME nickel briefly touched an intraday high of USD 14,475/mt on Wednesday, but retreated to USD 14,250/mt later in the day.

SHANGHAI, Feb. 26 (SMM) – LME nickel briefly touched an intraday high of USD 14,475/mt on Wednesday, but retreated to USD 14,250/mt later in the day. Inventories increased 786 mt to 425,300 mt.

Many Chinese investors will not eturn to the market until after the Chinese Lantern Festival, so trading on the LME will be thin during the Asian trading session. LME nickel should move sideways during Asian trading hours, but might fall during European trading session. Spot nickel in China is expected to trade between RMB 104,800-105,800/mt.

LME nickel prices

China nickel prices

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SMM Nickel Market Morning Review (2015-2-26)

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