Barclays Lowers 2014 LME Nickel Outlook to $14,000 per MT

MetalMiner reported that Barclays has downgraded its 2014 London Metal Exchange (LME) nickel price outlook to about $14,000 per metric ton (MT); that’s down from its previous forecast from $18,000 per MT.

As quoted in the market news:

The LME nickel 3-month price saw a 2.5 percent increase on Thursday, July 18, reaching $13,925 per metric ton on the LME and making it the biggest mover for the day. On the LME, the spot price of nickel inched up 2.0 percent to $13,805 per metric ton.

After a 1.1 percent increase, the Indian nickel cash price finished the day higher.

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