Nickel Hits 7-Month Low on Weak Chinese Data

Reuters reported that nickel has hit a 7-month low on the LME ending at $15,695 as a weak economic data from China, the world’s biggest metal consumer, strengthened concerns on demand growth.

As quoted in the market news:

The Chinese market is being kept up by credit invested in state-owned enterprises, though even that wasn’t enough to keep GDP on track to where the market expected it to be in Q1,” said Tom Kendall, an analyst at Credit Suisse.

Click here to read the full Reuters report.