SHANGHAI, Nov. 11 (SMM) – LME nickel prices opened at USD 9,525/mt on Tuesday, and dropped to a low of USD 9,425/mt, then stabilized later the day. In Europe and US trade session, LME nickel prices plunged initially but then edged up, and closed at USD 9,505/mt, down 0.26%. Trading volumes increased 2,337 to 6,429 lots, and total positions decreased 3,451 to 240,432. LME nickel inventories fell 4,806 to 418,716 mt.
SHFE 1601 nickel contract prices will move between RMB 72,800-74,200/mt today. Spot zinc prices in Shanghai should stabilize at RMB 72,000-73,700/mt.