Norilsk Nickel Calls for Higher Nickel Prices in 2014

Reuters reported that Norilsk Nickel (MCX:GMKN) believes that nickel prices will recover in 2014.

The company, which is the world’s biggest producer of nickel and palladium, made that prediction as it reported a 64-percent drop in its 2013 net profit.

As quoted in the market news:

‘Last year was a challenging and volatile year in commoditymarkets with prices for the majority of metals in the Norilsk Nickel portfolio declining that had a clear impact on our top-line performance,’ Potanin said in a statement.

The management is cautiously positive on 2014 with improving commodity prices in the beginning of the year but is also concerned over a deteriorating emerging market risk appetite in the global investment community, he added.

Click here to read the full Reuters report.