Nickel Will Slip Next Year as Supply Rises, Merrill Lynch Says
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Nickel prices will likely slip next year as increased production brings supply and demand into balance, according to Bank of America Merrill Lynch.
Immediate-delivery nickel probably will average $20,875 a metric ton next year, London-based analyst Michael Widmer said by phone yesterday. That implies a 1.5 percent drop from the average so far this year of about $21,202. Widmer was the most accurate of 17 analysts surveyed by Bloomberg News in estimating the metal’s price in the third quarter.