SMM Nickel Market Morning Review (2015-8-25)

Published: Aug 25, 2015 10:30

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LME nickel prices opened at USD 10,125/mt on Monday, then plummeted all the way to as low as USD 9,655/mt.

SHANGHAI, Aug. 25 (SMM) –LME nickel prices opened at USD 10,125/mt on Monday, then plummeted all the way to as low as USD 9,655/mt. During European and US trading session, LME zinc prices extended losses and dipped to as low as USD 9,215/mt, and closed at USD 9,520/mt, down 6.52%. Trading volumes increased 5,207 lots to 12,374 lots, and total positions grew 893 to 225,462. LME nickel inventories grew 60 to 455,052 mt.

LME nickel prices are expected to weaken today. SHFE 1601 nickel contract prices tumbled RMB 2,830/mt Monday evening, and should move between RMB 74,000-77,000/mt today. Spot nickel prices in Shanghai will fall to RMB 74,200-75,200/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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