Non-ferrous
Non-ferrous
Base Metals
Rare Earth
Scrap Metals
Minor Metals
Precious Metals
New Energy
Price CenterDatabaseProReportsEventsCar Insight
SMM Morning Review - 2010/3/29 Nickel Market
SHANGHAI, Mar. 29 (SMM) -- Yesterday, LME nickel prices opened at USD 22,700/mt and closed at USD 23,700/mt, with highest price at USD 23,735/mt and lowest price at USD 22,700/mt. Daily trading volumes were 2,592 lots and positions were 99,238 lots.
The US Department of Commerce announced on Friday that YoY growth rate of GDP in 4Q was 5.6%, which is lower than previous expectation of 5.9% and also lower than previous level of 5.9%. Expectation of economy recovery slightly weakened, but European countries finally reached an agreement on establishing financing mechanism in order to provide its membership with low interest loan and also received aid from IMF, which weighed on US dollar index. However, strong momentum of US dollar didn't come to an end, and market players should be cautious of its rebound. Recently, fundamentals of nickel were strong, and will continue to be strong in the following one or two weeks, which will further consolidate upward momentum of nickel prices.
It is expected that LME nickel prices will move in the USD23,200-24,000/mt range today.
To contact the writer on this report: angelawang@smm.cn
Copyright © SMM. All Rights Reserved
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
SMM Events & Webinars
All- Sep15
NET ZERO CHINA Field Trip
Sep 15 - 19,2025中国
- Sep26
2025 ASIA BATTERY MATERIAL COOPERATION SALON
Sep 26 - 26,2025Time：9.26 2025 Place：Seoul， South KoreaSeoul， South Korea
- Oct14
SMM LME Metals Seminar 2025
Oct 14 - 14,2025Emmanuel Centre，London , the United Kingdom
Shanghai Metals Market
Privacy PolicyCompliance CentreSMM Credit ServiceContact UsAbout UsTerms & ConditionsSitemapHoliday Pricing Schedule
Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.
Drop us a line
service.en@smm.cn
How can we help you?
+86 021 5155-0306
Live chat via WhatsApp
Copyright © 2025 SMM Information & Technology Co., Ltd. All rights reserved.
