11 Apr 2014
Base metals extends the upside – Danske bank
FXStreet (Barcelona) - According to Analyst Jens Pedersen at Danske Bank, the prices of base metals could see their upside extended.
Key Quotes
“Base metals, most notably nickel and aluminium, continued to rally yesterday climbing around 2% higher – the nickel price is up more than 20% since the beginning of the year”.
“The Indonesian ban of mineral ore export, which came into effect in January, has engineered the surge in prices by tightening global supplies”.
“However, a recent pickup in China’s base metal demand has added further support to prices”.
Key Quotes
“Base metals, most notably nickel and aluminium, continued to rally yesterday climbing around 2% higher – the nickel price is up more than 20% since the beginning of the year”.
“The Indonesian ban of mineral ore export, which came into effect in January, has engineered the surge in prices by tightening global supplies”.
“However, a recent pickup in China’s base metal demand has added further support to prices”.