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.