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0127 GMT [Dow Jones] Australian government's Abare expects nickel to average US$16,600/ton this year, well up on last year as stainless steel market tightens, but well down on current LME 3-month US$19,250. "speculators and investment funds are likely to have added to the rise in prices this year...prices could also fall rapidly if funds decide to substantially reduce holdings," warns in quarterly report. For 2007, forecasts 18% fall to US$13,700 on production slight
ly exceeding consumption, as new capacity offsets ongoing stainless steel strength.
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