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[Ni Price] SMM Nickel Market Morning Review (2015-8-11)

iconAug 11, 2015 10:32
China’s A-share market soared Monday, boosting commodity and other stocks markets.
SHANGHAI, Aug. 11 (SMM) – China’s A-share market soared Monday, boosting commodity and other stocks markets. When combined with a falling US dollar, base metals prices gained ground.

LME nickel prices opened at USD 10,800/mt, then increased to as high as USD 11,045/mt. During European and US trading session, LME nickel prices strengthened further and touched as high as USD 11,220/mt, and closed at USD 11,180/mt, up 3.52%. Trading volumes increased 140 lots to 5,750 lots, and total positions fell 782 to 225,457. LME nickel inventories grew 30 to 456,708 mt.

LME nickel prices are expected to fall after touching the 20-day moving average today. SHFE 1509 nickel contract prices surged RMB 2,430/mt Monday evening, and should move between RMB 81,800-83,300/mt today. Spot nickel prices in Shanghai will rebound to RMB 82,000-83,700/mt.

Ni price
LME zinc prices
SHFE zinc price
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.

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