SHANGHAI, Jul. 3 (SMM) – LME nickel prices opened at USD 11,980/mt, and rose to as high as RMB 12,130/mt due to the release of ADP employment data in June and Markit final manufacturing PMI. During European and US trading session, LME nickel price increased and touched USD 12,245/mt, and closed at USD 12,195/mt, up 1.71%. Trading volumes decreased 1,068 lots to 5,077 lots, and total positions grew 1,513 to 223,810. LME nickel inventories were up 198 mt to 457,308 mt.
LME nickel prices will lack ability to rise today. SHFE 1509 nickel contract prices climbed RMB 1,430/mt Thursday evening, and will edge up to RMB 89,000-89,100/mt. Spot nickel prices in Shanghai will rise to 88,500-90,500.