Nickel Trades Near 12-Year Closing Low as Chinese Demand Slows
- Prices heading for biggest annual slump since global crisis
- Commodities have spiraled lower as China's economy weakens
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Nickel traded near the lowest close in more than a decade amid slowing stainless-steel production in China as Asia’s largest economy faces the weakest growth in a generation.
Chinese output of stainless steel found in everything from washing machines to window frames slumped for four straight months through September to the lowest since February. Production was down 11 percent from May, data from Antaike Information Development Co. show.