Economics
Nickel Drops as Manufacturing Expansion Slows in China
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Nickel prices fell for the fifth time in six sessions on signs that manufacturing is expanding at the slowest pace in four months in China, the world’s largest consumer of industrial metals.
A Purchasing Managers’ Index gave a preliminary reading of 50.4 for February, HSBC Holdings Plc and Markit Economics said today. That compared with 52.3 in January. The International Nickel Study Group said on Feb. 20 that output of the refined metal was 1.75 million metric tons in 2012, outpacing demand of 1.66 million tons.