Nickel among UBS's most preferred commodity

Shanghai

NICKEL will feel the full impact of mine shutdowns in the Philippines only next year, when exports may fail to ramp up as usual, according to UBS Group AG, describing the metal as one of its most-preferred commodities that's supported by rising demand and deficits. Prices gained.

The government's audit of standards in the mining sector is a front-of-mind risk that's already shut down about 2 per cent of world supply, analysts including Daniel Morgan wrote in a note. Ore shipments from the top supplier could fall to 314,000 tonnes next year from 410,000 tonnes last year, it said.