Nickel – Bloomberg reported that Barclays plc (NYSE:BCS) believes that in terms of base metals, nickel offers the best opportunity for advances in early 2014. That's largely due to the ban on mineral ore exports set to come into effect in Indonesia in January.
Articles Tagged "Nickel Market News"
Nickel – Metal Bulletin reported that during today's official London Metal Exchange (LME) session, nickel prices rose to a four-week high on the continuation of a short-covering rally that began last week when Indonesia confirmed it will ban the export of raw materials starting in January.
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 – Mineweb reported that according to analysts at UBS AG (NYSE:UBS), Indonesia's ban on the export of nickel ore has a "low likelihood" of happening. The firm believes that a "phased ban that doesn't put near the same pinch on nickel supply" is more likely.
Nickel – The Financial Times reported that Indonesia's chamber of commerce has warned that if a planned ban on the export of raw minerals goes froward, the country's mining industry will collapse. Many believe the government will ultimately change its mind about the ban.
Nickel – MetalBulletin reported that this week, Jinchuan Group Ltd., China's largest nickel producer, has raised its benchmark nickel price by almost 5 percent. The move follows the metal's price gains on the London Metal Exchange.
Nickel – ScienceNetwork Western Australia reported that Perth CSIRO scientists and an Australian technology company have collaborated on a method of extracting nickel from low-grade ore in a commercially viable manner. Those involved in the project believe the new process could impact the international nickel industry.
Nickel – Bloomberg reported that the worldwide nickel glut will continue into 2014 as new technology allows Chinese furnaces to produce record amounts of nickel pig iron at a low cost, as per Morgan Stanley.
Nickel – The Motley Fool reported that speculation is rife that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) plans to sell its largest nickel assets in a bid to reduce costs and focus on its core operations.
Nickel – Reuters reported that Indonesia's potential nickel export ban could push prices for the metal up by over 20 percent, according to analysts. It would not, however, be good for nickel pig iron.