TEX reported that the average prices of LME nickel in October 2011 have been given at USD 18,886.43 per tonne for cash seller's settlement and USD 18,925.95 per tonne for 3 months seller's.

Cash prices during the month were basically in uptrend, with occasional but only temporary drops, from the lowest at USD 18,105 per tonne in the beginning of the month.

On October 24th 2011, cash price came back to USD 19,000's and have been in challenge for the even higher level of USD 20,000 per tonne. However, the averages ended up with lower figures than those of September due to October's start from low levels.

The LME inventory continued to decline towards the month end, when it stood at 86,508 tonnes on October 28th 2011, down by 10,566 tonnes from the preceding month.

The average September prices of LME nickel were USD 20,392.05 per tonne for cash seller's settlement and USD 20,430.23 per tonne for 3 months seller's.

(Sourced from TEX Report Limited)