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Scotiabank’s Mohr Sees Nickel at US$8.30 per Pound in 2014
May. 29, 2014 04:31PM PST
Base Metals Investing Mineweb reported that according to Scotiabank’s Patricia Mohr, nickel supply will fall 20 percent this year, largely due to Indonesia’s export ban.
Mineweb reported that according to Scotiabank’s Patricia Mohr, nickel supply will fall 20 percent this year, largely due to Indonesia’s export ban. As a result, her firm now sees the metal averaging US$8.30 per pound this year, $10.75 in 2015 and $12.50 in 2016.
As quoted in the market news:
‘Canada will climb back into No. 3 spot in world nickel production this year, after the Philippines (No. 1, based on ore shipped to China for NPI [Nickel Pig Iron]) and Russia (No. 2),’ [Mohr] predicted.
‘The profitability of Canadian nickel mines have shifted from marginal to strength,’ she observed, as margins now average roughly 22% over costs including depreciation.
An important by-product of nickel mining in Sudbury, palladium has also jumped by 16% since late 2013, she added.
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