Citigroup optimistic about short-term nickel prices
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Update time : 2021-07-22 18:14:51
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.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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