Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Russia Metal Producers Slump to 2009 Low on China: Moscow Mover

Russia’s metal producers dropped to the lowest level since 2009 on concern economic growth in China is slowing, curbing demand for commodities.

OAO GMK Norilsk Nickel, the world’s biggest producer of the metal, lost as much as 4.2 percent, a December 2009 low and closed down 1.8 percent at 4,389 rubles in Moscow. OAO Novolipetsk Steel slid 0.8 percent to 41.58 rubles, the weakest level since April 2009, after dropping as much as 4 percent. OAO Severstal, Russia’s second-largest steelmaker, tumbled 0.3 percent to 216.10 rubles, the lowest in 3 1/2 years.

Morgan Stanley cut its 2013 gross domestic product forecast for China today, joining banks from UBS AG to Barclays Plc, after a weaker expansion in exports, industrial output and new lending last month. Most metals, including nickel and copper, retreated in London.

“Metal producers are pricing in concerns about the deceleration of Chinese growth,” Mikhail Stiskin, an analyst at Sberbank CIB in Moscow, said by phone. “Commodity prices have returned to 2009 levels.”

Nickel fell 1.4 percent to $14,078, the seventh day of declines and the lowest intraday level since June 2009. Steel has lost 49 percent over the last 12 months and trades at $155.

NLMK’s global depositary receipts declined as much as 5.4 percent in London, falling 1.9 percent to $13. Severstal added 0.2 percent to $6.75.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.