The dollar rose from an eight-month low, while Treasuries fell and U.S. stocks closed little changed, as investors prepared for tomorrow’s employment data. The yen weakened after Japan’s exports trailed estimates, while oil slid below $100 a barrel as American inventories grew.
China’s production of nickel pig iron will rise 6.2 percent to 155,000 metric tons next year, with Chinese stainless steel producers substituting about one- third of primary nickel with the cheaper alternative, CRU said.
Nickel pig-iron output in China, the world’s largest metals user, may surge 50 percent this year, possibly curbing demand for the refined product and hurting prices that have lagged behind all other base metals in London.
Nickel pig iron makers in China, the world’s largest consumer of nickel, have started to idle capacity as prices and demand weaken amid the nation’s curbs on property development, according to a state-owned researcher.