Nickel market outlook better in fourth qtr.: Deutsche Bank
Aug 21, 2013 | 12:18 PM
| Janie Davies
LONDON The nickel market will improve in the fourth quarter of this year and into 2014 on Chinese growth prospects and anticipated restrictions on Indonesian ore, according to Deutsche Bank AG.
Nickel will remain in surplus for several years, with a deficit not expected until 2019, but the near-term outlook is brighter, the banks analysts said. "Although the medium-term outlook remains weak, we believe the near-term prospects have turned the corner."
Deutsche Bank expects nickel prices to climb from an average of $15,002 per tonne ($6.80 per pound) in the current quarter to $16,500 per tonne ($7.48 per pound) in the fourth quarter and $18,000 per tonne ($8.16 per pound) in the first quarter of 2014 before retreating to $17,000 per tonne ($7.71 per pound) in the second quarter of next year.....
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