[Ni Price] SMM Nickel Market Morning Review (2015-8-4)

Published: Aug 4, 2015 09:44

Save

Caixin’s final July PMI for China dropped. Greek stocks market tumbled after opening.

SHANGHAI, Aug. 4 (SMM) – Caixin’s final July PMI for China dropped. Greek stocks market tumbled after opening. US economic indicators released overnight also fell short of market expectations. Crude oil prices plunged by 4%, weighing on base metals.

LME nickel prices opened at USD 11,085/mt, then fell all the way down. As of 5: 30 pm, LME nickel prices dipped to USD 10,660/mt, down as much as RMB 395/mt, and closed at USD 10,760/mt, down 2.76%. Trading volumes increased 213 lots to 7,302 lots, and total positions grew 3,031 to 220,014. LME nickel inventories were down 1,260 mt to 458,838 mt.

China is expected to release additional stimulus measures to support the stock market. LME nickel prices are expected to consolidate today. SHFE 1509 nickel contract prices fell RMB 1,290/mt last Friday evening, and should move between RMB 79,000-81,500/mt today. Spot nickel prices in Shanghai will fall to RMB 80,000-81,600/mt.

Ni price SHFE nickel prices LME 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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

28 mins ago

Data: SHFE, DCE market movement (Mar 25)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Mar , 2026

28 mins ago

7 hours ago

US Dollar Index Strengthened, LME Zinc Came Under Pressure and Edged Lower [SMM Zinc Morning Meeting Summary]

[SMM Morning Zinc Briefing: Stronger US Dollar Index Put LME Zinc Under Pressure and Slightly Lower]: Overnight, LME zinc opened at $3,095/mt. After the opening, LME zinc fluctuated downward along the daily average line, hitting an intraday high of $3,097/mt. Near the close, LME zinc fell to a low of $3,027/mt, and finally closed down at $3,038.5/mt, down $64.5/mt, a decline of 2.08%, while trading volume decreased to 11,298 lots...

7 hours ago

Persistent Macro Uncertainty Continued to Weigh on SHFE Zinc, Which Remained in the Doldrums [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment: Persistent Macro Uncertainty Continued to Weigh on SHFE Zinc, Which Remained in the Doldrums] Overnight, the most-traded SHFE zinc 2605 contract opened at 22,875 yuan/mt. During the night session, SHFE zinc fluctuated above the daily average line, touched an intraday high of 22,970 yuan/mt, and dipped to 22,835 yuan/mt near the close, before ending down at 22,880 yuan/mt, down 95 yuan/mt, or 0.41%..

7 hours ago