SMM Nickel Market Morning Review (2015-9-28)

SHANGHAI, Sept. 28 (SMM) – LME nickel prices opened at USD 9,875/mt last Friday, and rose to USD 9,930/mt, but fell back to USD 9,825/mt. During European and US trading, LME nickel prices stood at the 20-day moving average, and closed at USD 9,960/mt, up 0.45%. Trading volumes decreased 637 lots to 5,862 lots, and total positions increased to 5,017. LME nickel inventories remained at 454,812 mt.

LME nickel prices will move around the 20-day moving average today. SHFE 1601 nickel contract prices will hover between RMB 76,500-77,500/mt today. Spot zinc prices in Shanghai should hold stable at RMB 75,500-76,800/mt.