SMM Nickel Market Morning Review (2015-5-8)

Published: May 8, 2015 10:10

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LME nickel prices opened at USD 13,900/mt, then plunged to as low as USD 13,750/mt.

SHANGHAI, May 8 (SMM) – LME nickel prices opened at USD 13,900/mt, then plunged to as low as USD 13,750/mt. But during European and US trading session, LME nickel prices gained ground again and rise to USD 14,200/mt, and closed at USD 14,150/mt, up 1.29%. Trading volumes decreased 2,157 lots to 8,536 lots, and total positions increased 3,842 to 234,725. LME nickel inventories fell 1,482 mt to 442,434 mt.

LME nickel prices will lack ability to rise today. SHFE 1507 nickel contract prices fell RMB 1,290/mt Thursday evening. Spot nickel prices in Shanghai will move between RMB 103,000-109,000/mt today.

nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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