Iron – Reuters reported that Citigroup Inc. (NYSE:C) believes increased supply is set to keep iron ore prices low. However, the firm admitted that yesterday's price drop — iron ore's biggest one-day fall in four years — was a surprise.
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Nickel – Bloomberg reported that yesterday, Citigroup Inc. (NYSE:C) raised its 2014 nickel price forecast from $16,375 to $17,000 per metric ton (MT) due to its belief that "the Indonesian export ban is essentially being mispriced."
Nickel – MetalBulletin reported that David Wilson, director of metals research and strategy at Citigroup Inc. (NYSE:C), believes that, contrary to what many believe, Indonesia is indeed likely to impose restrictions on ore exports.
Nickel – Bloomberg reported that nickel rose to a 3-month high as stainless steel companies restock on metal amid signs of positive economic growth.
The pricing of iron ore, between mining giants and China, is escalating into a high stakes game. Who stands to benefit? Canadian iron-mining companies, especially producers from Quebec and Labrador. Already, 2010 is looking good. The steel market is also set to expand by 9.2 per cent in 2010, on rising demand from the [...]