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Nickel leads metals higher as Goldman sees $12 000 in six months

Nickel led metals higher, climbing for a third day, as Goldman Sachs Group Inc. predicted an almost 20% jump in prices in the next six months because of supply cuts in the Philippines, the biggest ore producer. The metal added as much as 1.4% to $10 190 a metric ton on the London Metal Exchange and traded at $10,115 by 1:23 p.m. in Shanghai. Nickel will reach $12 000 a ton in six months, according to a baseline scenario from the bank that assumes a quarter of output in the Philippines is lost over the period. Shanghai futures rose 0.4% after a 3.2% increase Monday.