SMM Nickel Market Morning Review (2015-8-17)

Published: Aug 17, 2015 10:20 (GMT+8)

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LME nickel prices opened at USD 10,455/mt, then rallied.

SHANGHAI, Aug. 17 (SMM) – LME nickel prices opened at USD 10,455/mt, then rallied. During European and US trading session, LME nickel prices rebounded and closed at USD 10,625/mt, up 1.67%. Trading volumes decreased 2,021 lots to 2,708 lots, and total positions added 3,333 to 233,028. LME nickel inventories fell 24 to 454,326 mt.

LME nickel prices are expected to consolidate today. SHFE 1601 nickel contract prices rose RMB 50/mt last Friday evening, and should move between RMB 82,000-83,000/mt today.

Spot nickel prices in Shanghai will hold stable between RMB 81,000-82,500/mt.

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.

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