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Citigroup optimistic about short-term nickel prices

22 Jul 2021 16:51 reported by Joy Liu

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According to Citigroup’s forecast, the prosperity of commodities will last for two more quarters. The demand for commodities will weaken with a slowdown of economic recovery, and supply will be partially eased.

Citigroup especially showed its optimism on short-term nickel prices, predicting that the price will reach US$20,500/ton in the next three months under the expectation of tighter spot supply.

Besides, Citigroup was also optimistic about the long-term aluminum and copper prices, partly due to stronger demand for power generation and transmission, passenger cars, electric vehicles, and consumer goods, as well as the limited supply.

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