Oct 8 Goldman Sachs on Thursday slashed its 2016 price forecasts...

Oct 8 Goldman Sachs on Thursday slashed its 2016 price forecasts for nickel, zinc, and lead by more than 20 percent, primarily citing challenges to Chinese metals and mining demand.

"China's metals and mining commodity demand is likely to continue to be challenged by a substantial debt and property inventory overhang and further dollar strength," the influential U.S. investment bank said in a note.

Goldman cut its 2016 outlook by 29 percent each for nickel and zinc to $14,500 per tonne and $2,383 per tonne, respectively, while lowering its outlook for lead by 21 percent to $2,083 per tonne.

Low Chinese demand, increasing competition from nickel pig iron output in the country along with a depreciating Chinese currency, are among the factors that could provide a downside risk to nickel prices, Goldman said.

Goldman said it expected copper and aluminum prices to decline from current levels over the coming year but left its 2016 outlook for both the metals unchanged. The bank, however, cut its copper forecast for this year to $5,582 from $5,670 per tonne.

http://www.reuters.com/article/2015/10/08/metals-goldman-sachs-outlook-idUSL1N1282NU20151008