SHANGHAI, Aug. 27 (SMM) –LME nickel prices opened at USD 9,565/mt on Wednesday, then touched as high as USD 9,665/mt with China’s rebounding A-share market. However, LME nickel prices returned to a downtrend during European and US trading session, and dipped to as low as USD 9,350/mt, and closed at USD 9,535/mt, down 0.31%. Trading volumes decreased 1,916 lots to 6,058 lots, and total positions fell 568 to 223,359. LME nickel inventories grew 528 to 454,380 mt.
The shipments of tin ore and concentrate from Myanmar to China declined slightly during the month of July this year. The customs data indicates that Chinese imports from Myanmar during the month totaled 20,095 tonnes in gross weight.
SHANGHAI, Aug. 27 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,340/mt Wednesday evening, then hovered around RMB 14,400/mt and closed at RMB 14,395/mt, down RMB 105/mt or 0.72%.
SHANGHAI, Aug. 27 (SMM) – SHFE 1510 lead gapped lower at RMB 13,145/mt for night trading Wednesday and then ranged between RMB 13,115-13,275/mt, to close at RMB 13,190/mt, losing RMB 110/mt. Trading volumes declined 4,416 to 2,810 lots and positions also dropped 84 to 17,234.
SHANGHAI, Aug. 27 (SMM) – SHFE 1511 aluminum climbed to RMB 11,900/mt after opening higher at RMB 11,850/mt on Thursday. The contract fell back to RMB 11,820/mt later. Chinese A-share market rose sharply in the afternoon, allowing the most active contract to rebound before ending up RMB 20/mt or 0.17% at RMB 11,875/mt. Trading volumes were down 8,732 lots to 21,710 lots, and positions were up 2,552 lots to 120,000 lots. The 5-day moving average will continue to pose strong resistance.