Morgan Stanley and Credit Suisse were named favorites among the metals in 2016


Moscow. December 16. Nickel, copper and zinc, which plunged sharply in 2015, are favorites among metals in 2016, experts Morgan Stanley and Credit Suisse.

The price of Nickel in London trading on Wednesday rose by 1.5% to $8,68 per ton. On Tuesday, the metal declined 2.3%.

Copper prices jumped in the course of trading on 0,2%, zinc – by 0.3%.

The prices of basic metals fell this year to multi-year lows amid declining demand in China, where there is a weakening of the pace of economic growth. Since the beginning of 2015 the price of Nickel fell by 44%, copper by 28%, zinc – by 31%.

Experts at Morgan Stanley say that the planned reduction of production volumes of metals or limitation of production capacity, as Chinese companies and other producers, including Glencore Plc, will support the Nickel price next year.

“We adhere to the “relentless bullish” forecast for the prices of Nickel for 2016″, – stated in the review Morgan Stanley, prepared by analysts Tom price and Joel crane.

According to their estimates, the average price of Nickel next year will be $10,692 per ton. The average cost of zinc in 2016 will be $USD 1.747 thousand for ton, copper – $5,236 per ton, experts predict.

“We continue to see only a moderate decrease in the demand for commodities associated with the weakening of growth in China, not the complete surrender of the demand, which indicates the dynamics of metals prices”, – experts say Morgan Stanley.

Experts Credit Suisse also considered the Nickel, copper and zinc among the favorites of the metals in the next year. They note the expected reduction in the supply of Nickel by the serious scale of the losses faced by producers due to the fall in prices.