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Platts reported that nickel, which is down 13.6 percent year to date and is currently the worst-performing base metal, may fare better in the fourth quarter of 2013 and into 2014, according to Deutsche Bank AG (NYSE:DB).
Platts reported that nickel, which is down 13.6 percent year to date and is currently the worst-performing base metal, may fare better in the fourth quarter of 2013 and into 2014, according to Deutsche Bank AG (NYSE:DB).
As quoted in the market news:
‘However, we expect the situation to change — albeit temporarily — and think the outlook is looking more positive for Q4 13 and into 2014,’ Deutsche Bank said.
The bank is forecasting China’s near-term GDP to come in above consensus forecasts with improving macro indicators supporting a better growth outlook.
‘We expect Chinese growth will stabilize in Q3 and start to accelerate from Q4 onwards as a result of mild policy support and a stronger US and Europe contributing to a recovery in export growth,’ the bank said.
Deutsche Bank also thinks it likely that there will be some form of action out of Indonesia in 2014 as part of a ‘negotiation’ process to capture more rent from their laterite ores.