LME September nickel price fell to USD 7.9 a pound level
Friday, 09 Oct 2009
TEX reported that the average prices of LME nickel in September of 2009 were known as USD 17,473.18 per tonne for cash and USD 17,517.73 per tonne for three month futures. After having continued rising LME nickel prices for the successive 5 months, these nickel prices had at last turned to fall.
As regards the movements of LME nickel prices in September, the prices at the beginning of September were on the level of USD 18,500 per tonne but, after that, turned to weaken and once fell to USD 16,600 per tonne. However, LME nickel prices rebounded and rose to USD 17,500 per tonne for three month futures by the end of September.
LME nickel stocks at the beginning of September exceeded the level of 110,000 tonnes and, after that, the stocks continued to increase, having recorded 119,040 tonnes as of September 14th 2009. However, LME nickel stocks turned to decrease from September 15th 2009 and reduced to 117,270 tonnes at September 24th 2009.
For a reference, the average prices of LME nickel in August of 2009 were USD 19,641.75 per tonne for cash and USD 19,661.50 per tonne for three month futures.
