SMM Nickel Market Morning Review (2015-6-16)

Jun 16, 2015 10:04

LME nickel prices opened at USD 13,100/mt on Monday, then dropped below the 20-day moving average.

SHANGHAI, Jun.16 (SMM) – LME nickel prices opened at USD 13,100/mt on Monday, then dropped below the 20-day moving average. With the entry of shorts, LME nickel prices dropped below USD 13,000/mt at one point and dipped to as low as USD 12,780 during European and US trading hours. But with plummeting US dollar index, LME nickel prices returned to USD 13,000/mt, and closed at USD 12,940/mt, down 1.41%. Trading volumes decreased 671 lots to 5,415 lots, and total positions increased 1,931 to 247,940. LME nickel inventories were down 708 mt to 464,556 mt.

LME nickel prices will not fall significantly today. SHFE 1509 nickel contract prices slipped RMB 300/mt Monday evening and will fluctuate between RMB 96,500-98,500/mt. Spot nickel prices in Shanghai will edge down to RMB 94,800-97,500/mt today.

LME nickel prices

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

SMM Nickel Market Morning Review (2015-6-16)

SMM Events & Webinars

2025 SMM India Session: Li-battery & PV Market Insights

Li-ion Battery Europe 2025

NET ZERO EUROPE - Solar & Energy Storage Summit