SMM Nickel Market Morning Review (2015-9-18)

SHANGHAI, Sept. 18 (SMM) – The Fed left its benchmark interest rate unchanged at its policy meeting overnight, weighing down the US dollar whilst pushing up gold prices.

LME nickel prices opened at USD 10,090/mt Thursday, and surged to USD 10,190/mt, and closed at USD 9,920/mt, down 1.29%. Trading volumes increased 146 lots to 6,256 lots, and total positions decreased 800 to 232,800. LME nickel inventories grew 1,158 to 450,330 mt.

LME nickel prices are expected to rise today. SHFE 1601 nickel contract prices will hover between RMB 77,600-79,200/mt today. Spot nickel prices in Shanghai are expected to fluctuate between RMB 76,200-77,500/mt.