SMM Nickel Market Morning Review (2015-11-16)

Published: Nov 16, 2015 11:17

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LME nickel prices opened at USD 9,410/mt last Friday, and reached USD 9,515/mt.

SHANGHAI, Nov. 16 (SMM) – LME nickel prices opened at USD 9,410/mt last Friday, and reached USD 9,515/mt. LME nickel prices fell and dipped to USD 9,335/mt in Europe and US trade, and closed at USD 9,420/mt, up 0.31%. Trading volumes decreased 2169 to 5,497 lots, and total positions increased 2,355 to 243,230. LME nickel inventories fell 672 to 418,056 mt.

LME nickel will consolidate at lows today. SHFE 1601 nickel contract prices will hover between RMB 72,500-73,500/mt today. Spot zinc prices in Shanghai should stabilize at RMB 71,900-73,500/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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