SHANGHAI, Oct. 9 (SMM) – LME nickel prices opened at USD 10,115/mt. During European session, LME nickel prices dipped to the 5-day moving average at one point, then rebounded and closed at USD 10,170/mt, up 0.1%. Trading volumes increased 921 to 6,218 lots, and total positions declined 988 to 245,344. LME nickel inventories fell 2,808 to 443,592 mt.
LME nickel prices will rise further. SHFE 1601 nickel contract prices will hover between RMB 77,400-78,300/mt today. Spot zinc prices in Shanghai should move between RMB 76,200-77,500/mt.