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

Published: Aug 11, 2015 10:32

Save

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 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