Norilsk Nickel has agreed a conservative budget for 2014

~~Norilsk Nickel has agreed a conservative budget for 2014 concerning currency exchange rate of ruble to USD at a rate of 33.4 on average, the Vice CEO, the director of the block of the economy and finance of the company, S. Malyshev says. The Board of Directors agreed the budget on December 20th. The forecast on metal price executed by the company is much more conservative than the consensus forecast of the analysts. The expected nickel price is higher than it is now ($14,600 per ton) but it’s lower than the forecasts of some analysts ($16,300 per ton). The company does not concern the factors of the introduction of the abolishment of unprocessed ore exports by Indonesia. The company’s forecast for other metals, such as copper and platinoids is conservative as well.