Nickel fell to the lowest level in two months on Monday China


Moscow. November 9. Nickel on Monday fell to the lowest level in two months on data on the decline in China’s foreign trade in October, reports Bloomberg.

As reported by General administration of customs of China, exports in yuan fell last month by 3.6% compared with October 2014. Imports in RMB decreased by 16%. The surplus balance of foreign trade in China in yuan last month was a record 393,2 billion yuan ($61.9 billion).

Experts surveyed by Bloomberg, the average expected decline in exports in October by 3.1%, imports – by 11.7%.

The price of Nickel for delivery in three months during trading on the London metal exchange (LME) decreased by 0.9% to $9545 per ton, the lowest level since August 26.

Meanwhile, zinc climbed 0.2% to $1663,5 per ton, once the world leader in the smelting of this metal Nyrstar NV announced the probability of a temporary reduction of production at 400 tons in the case that prices will not rise in the near future.

Over the past 12 months commodity Bloomberg Commodity index lost 27% on the backdrop of a slowdown in growth of China’s economy, the largest consumer of raw materials in the world.