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.