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The Fitch Ratings corrected biannual forecast prices for nickel and copper

12 September 2013

International rating agency «Fitch Ratings» has changed its forecast for nickel and copper, the value of the next two years. The reason was the declining demand for the metals mentioned above from the PRC. Another factor to reduce the cost of these resources — consider in office — is the low rate of recovery of markets in Europe.

In particular, in the current year, according to experts «Fitch Ratings», the average price of copper on the London Metal Exchange will fluctuate around 7.25 thousand. Dollars per ton. Earlier, this figure is estimated by experts at the agency level, 7.5 thousand. Dollars per thousand kilograms. The next year, according to analysts, the cost of the red metal will fall even lower and reach $ 7 thousand. Dollars per ton. «Now is the introduction into practice of new copper projects that significantly improve the situation with the supply of goods on world metal markets» — says its forecast «Fitch Ratings». At the same time, growth in demand for the red metal in China has slowed down significantly (only in 2012 — experts remind Bureau — the figure fell back to the level of 5.5% as compared to 13% recorded a year earlier). So, according to agency professionals on global commodity exchanges accumulation of material stock balance of copper will continue rapidly, which, ultimately, lead to a decrease in the share price.

At the same time, analysts agencies have expressed the view that the price of nickel (in spite of the recent epic fall of his quotes) in the next year will increase significantly. «In 2014, the nickel price tags will gradually gain confidence and metal price reaches, eventually, 19 thousand dollars per ton.» — Experts say «Fitch Ratings». The truth is the rest of 2013 the value of this resource producers is unlikely to please: it will «mark time» at a mark of 14 thousand US dollars per ton… «This is due to low demand for nickel in Europe, the excess metal on the trading floors and pessimism of investors, who give a preference at this stage of the stock market» — sums up his statement, analysts «Fitch Ratings».

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