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Goldman Sachs Group Inc. raised its price forecast for nickel as the market is swinging to a deficit next year following an ore-export ban in Indonesia.

The bank’s 12-month estimate is now $22,000 a metric ton, up 38 percent from the previous projection of $16,000, analysts led by Max Layton wrote in a report. They increased zinc and aluminum by at least 11 percent to $2,500 a ton and $2,100 a ton, respectively, saying iron ore, gold and copper have “the greatest downside” among the mining commodities.

Read more at: http://www.bloomberg.com/news/2014-07-24/goldman-raises-nickel-price-forecast-as-deficit-looms-amid-ban.html