The financial services provider Barclays has hiked the estimates for nickel prices for 2014 to US$15,000/ton from US$14,000/ton, boosted by lower output.
Meanwhile, Barclays also increased its estimates for copper prices for the fourth quarter to US$7,150/ton from US$6,850/ton.
Furthermore, it hiked its estimates for copper prices for 2014 to US$6,750/ton from US$6,400/ton, driven by strong demand from China and tight supply.