Boost to AGM Net Smelter Revenue Forecast (5-9-2003) .
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Nickel seen topping US$10,500: survey
Friday, September 19, 2003 NICKEL above US$10,500 a tonne in the next six months is the forecast from a survey of metals analysts conducted by Reuters. At that level, the metal will be at a 13-year high.
In fact, it could come a lot quicker than the next six months with metal for delivery in three-months on the London Metal Exchange passing the US$10,000 mark on Wednesday, and overnight delivery hitting US$10,100 in overnight trading.
At its current level, nickel is at its highest in more than three years.
Angus MacMillan, metals strategist at Prudential Bache International, said he would be very surprised "if it didn't get to US$10,500 in the final quarter of the year, or early next year".
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
