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Higher freight rates could push up non-ferrous transport costs

September 02, 2013 - 11:57 GMT Location: London

KEYWORDS: freight rates , JP Morgan , note , analysts , copper , aluminium , nickel

Increasing freight rates, driven by higher volumes of iron ore and coal, are likely to cause a rise in transportation costs and delivered prices for other commodities such as bauxite, alumina, copper concentrate, and nickel ore, analysts at JP Morgan said in a note on Monday September 2.

This could then feed through to refined metal via cost-push pressures, the analysts said, and among the base metals, data suggest nickel – especially the nickel contained in Chinese nickel pig iron production (NPI) – has the greatest exposure to possible changes in ocean freight rates. "Wood Mackenzie...

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