Sherritt CEO Anticipates Nickel Price Rise

Reuters reported that according to David Pathe, CEO of Sherritt International Corp. (TSX:S), the price of nickel should rise over the next year as factors like the Indonesian export ban reduce supply.

Pathe made that statement after his company posted a loss for 2014′s third quarter.

As quoted in the market news:

CEO David Pathe expects the market to change over the next year, helped by a sustained ban on ore exports from the world’s top nickel supplier, Indonesia.

‘We think there is quite a compelling case to be made that the nickel market is going to move over the course of next year, from a period of several years of sustained surpluses of supply to potentially a period of years of supply deficit,’ Pathe said.

‘The Indonesian government reiterated its commitment to the ore ban just a couple of weeks ago at a nickel conference in Jakarta.’

Click here to read the full Reuters report.