SHANGHAI, Aug. 20 (SMM) –LME nickel prices opened at USD 10,360/mt, then edged up and rose to RMB 10,480/mt. During European and US trading session, LME zinc prices fell then leveled out, and closed at USD 10,435/mt, up 0.82%. Trading volumes decreased 1,543 lots to 4,376 lots, and total positions declined 7,377 to 226,456. LME nickel inventories grew 1,194 to 456,168 mt.
LME nickel prices are expected to consolidate today. SHFE 1601 nickel contract prices rose RMB 230/mt Tuesday evening, and should move between RMB 81,000-81,900/mt today. Spot nickel prices in Shanghai will hover between RMB 80,000-81,000/mt.