SHANGHAI, Nov. 20 (SMM) – LME nickel prices opened at USD 9,015/mt on Thursday, and plunged to USD 8,940/mt. In Europe and US trade session, LME nickel prices returned to USD 9,000/mt then fell back down, and plummeted to as low as USD 8,875/mt and closed at USD 8,950/mt, down 0.56%. Trading volumes decreased 966 to 6,064 lots, and total positions decreased 2,332 to 235,303. LME nickel inventories fell 432 to 415,452 mt.
LME nickel will fall today. SHFE 1601 nickel contract prices will hover between RMB 68,500-70,200/mt today. Spot zinc prices in Shanghai should stabilize at RMB 68,400-70,000/mt.