Norilsk Drops to 3-Month Low as Nickel Falls on China Woes
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OAO GMK Norilsk Nickel fell to a three-month low in U.S. trading as prices for the metal slumped on concern a slowdown in China will stem demand.
American depositary receipts of Norilsk, the world’s largest producer of nickel and palladium, slipped 3.4 percent to $17.14 at the close in New York, the lowest since Jan. 13. Nickel declined 4.4 percent on the London Metal Exchange to $17,505 a ton.