SMM Nickel Market Morning Review (2015-8-13)

Aug 13, 2015 10:18

LME nickel prices tumbled on continuous RMB deprecation.

SHANGHAI, Aug. 13 (SMM) – LME nickel prices tumbled on continuous RMB deprecation.

LME nickel prices opened at USD 10,745/mt, but as the RMB exchange rate was lowered further, shorts prevailed in the market. LME nickel prices thus plunged by nearly 14%, dipping to as low as USD 9,100/mt at one point, but rallied to USD 10,400/mt.

During European and US trading session, LME nickel prices clawed back some losses and closed at USD 10,600/mt, down 0.93%. Trading volumes increased 2,346 lots to 10,976 lots, and total positions added 3,427 to 229,073. LME nickel inventories fell 2298 to 454,410 mt.

LME nickel prices are expected to fall further today. SHFE 1509 nickel contract prices rose RMB 500/mt Wednesday evening, and should move between RMB 81,800-83,000/mt today. Spot nickel prices in Shanghai will rise to RMB 81,800-82,700/mt.

LME nickel prices

SHFE 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 (2015-8-13)

SMM Events & Webinars

NET ZERO CHINA Field Trip

2025 ASIA BATTERY MATERIAL COOPERATION SALON

SMM LME Metals Seminar 2025