SHANGHAI, Nov. 18 (SMM) – LME nickel prices opened at USD 93,550/mt on Tuesday, and plunged below USD 9200/mt, falling to as low as USD 9,155/mt. In Europe and US trade session, LME nickel prices leveled out at one point, then plummeted and closed at USD 9,075/mt, down 2.31%. Trading volumes increased 1,556 to 6,593 lots, and total positions decreased 2,227 to 245,090. LME nickel inventories fell 3,072 to 412,956 mt.
LME nickel will extend declines today. SHFE 1601 nickel contract prices will hover between RMB 70,000-72,000/mt today. Spot zinc prices in Shanghai should fall to RMB 69,500-71,000/mt.