SMM Nickel Market Morning Review (2015-9-11)

Published: Sep 11, 2015 11:01

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LME nickel prices opened at USD 9,965/mt on Thursday, and raced up above the 20-day moving average.

SHANGHAI, Sept. 11 (SMM) –LME nickel prices opened at USD 9,965/mt on Thursday, and raced up above the 20-day moving average. During European and US trading session, LME nickel prices extended gains and soared to USD 10,475/mt, and closed at USD 10,385/mt, up 3.85%. Trading volumes increased 3,401 lots to 9,102 lots, and total positions increased 1,008 to 225,626. LME nickel inventories fell 1,362 to 449,682 mt.

LME nickel prices are expected to surge then fall back today. SHFE 1601 nickel contract prices will surged to RMB 80,000/mt today. Spot nickel prices in Shanghai are expected to rise to RMB 76,800-78,400/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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