SMM Nickel Market Morning Review (2015-9-7)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Nickel
  • Aluminium
  • Inventory data
  • Futures movement
  • trend forecast
  • Rare earths
  • Evening comments
  • Wanbao Minerals
  • Stainless steel spot
  • Morning comments
  • Macroeconomics
  • Copper
  • price

SMM Nickel Market Morning Review (2015-9-7)

Price Review & Forecast 10:22:49AM Sep 07, 2015 Source:SMM

SHANGHAI, Sept. 7 (SMM) –LME nickel prices opened at USD 9,990/mt last Friday, then fell all the day, and plunged to as low as USD 9,715/mt, but rebounded above the 10-day moving average, and closed at USD 9,890/mt, down 0.55%. Trading volumes decreased 1,024 lots to 5,075 lots, and total positions decreased 1,583 to 222,372. LME nickel inventories fell 48 to 453,630 mt.

LME nickel prices are expected to fall below the 5-day moving average today. SHFE 1601 nickel contract prices will move between RMB 76,000-77,500/mt today. Spot nickel prices in Shanghai are expected to rebound slightly. 


Key Words:  LME nickel prices 

Price

more
SMM #1 Nickel
Nov.19
123950.0
-1150.0
(-0.92%)
#1 JinChuan Nickel
Nov.19
126100.0
-750.0
(-0.59%)
#1 Import Nickel
Nov.19
121800.0
-1550.0
(-1.26%)
JinChuan B&C
Nov.19
11850.0
-350.0
(-2.87%)
Russian Nickel Premium
Nov.19
7550.0
-1150.0
(-13.22%)

SMM Nickel Market Morning Review (2015-9-7)

Price Review & Forecast 10:22:49AM Sep 07, 2015 Source:SMM

SHANGHAI, Sept. 7 (SMM) –LME nickel prices opened at USD 9,990/mt last Friday, then fell all the day, and plunged to as low as USD 9,715/mt, but rebounded above the 10-day moving average, and closed at USD 9,890/mt, down 0.55%. Trading volumes decreased 1,024 lots to 5,075 lots, and total positions decreased 1,583 to 222,372. LME nickel inventories fell 48 to 453,630 mt.

LME nickel prices are expected to fall below the 5-day moving average today. SHFE 1601 nickel contract prices will move between RMB 76,000-77,500/mt today. Spot nickel prices in Shanghai are expected to rebound slightly. 


Key Words:  LME nickel prices