Nickel

Bloomberg reported that Paul Crone, chief investment officer at Citrine Capital Management LLC, expects global demand to exceed production this year for zinc and nickel. As such, he anticipates they will lead advances in the base metals sector.

Bloomberg reported that Paul Crone, chief investment officer at Citrine Capital Management LLC, expects global demand to exceed production this year for zinc and nickel. As such, he anticipates they will lead advances in the base metals sector.

As quoted in the publication:

Zinc may rally to $2,500 to $2,700 a metric ton, as much as 15 percent higher than last week, said Crone, who manages more than $200 million at the New York-based hedge fund and has traded metals for a quarter of a century. Nickel may rise 23 percent to $23,000 as Indonesia’s ban on raw ore exports cuts supply, Crone said in a phone interview on Aug. 21.

Nickel rose 0.7 percent to $18,880 a ton on the London Metal Exchange at 7:36 p.m. in Singapore, taking gains this year to 36 percent. It last traded above $23,000 in August 2011. Zinc climbed 15 percent to $2,359 a ton this year, and last traded above $2,700 in January 2010.

Click here to read the full Bloomberg article.

 

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