SHANGHAI, Nov. 6 (SMM) – LME nickel prices opened at USD 9,870/mt on Thursday, then fell all the way to USD 9,665/mt, and closed at USD 9,745/mt, down 1.37%. Trading volumes increased 591 to 8,222 lots, and total positions added 1,168 to 241,210. LME nickel inventories fell 570 to 427,518 mt.
LME nickel is expected to remain low today. SHFE 1601 nickel contract prices will move between RMB 74,300-75,800/mt today. Spot zinc prices in Shanghai should drop to RMB 73,500-75,000/mt.