Nickel Drops to Three-Week Low as Lead Falls on China Concerns
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Nickel fell to the lowest level in three weeks as lead declined to a one-week low on concerns that demand in China may not be strong enough to absorb rising supplies.
Nickel for delivery in three months on the London Metal Exchange declined as much as 0.8 percent to $17,720 a metric ton, the lowest since Jan. 29, while lead fell as much as 0.5 percent to $2,379.75 a ton, the lowest since Feb. 12. The LME Index of six primary metals lost 1.5 percent to 3,546.9 yesterday, the lowest since Jan. 29.