Bloomberg News

Norilsk Nickel Falls Most in Week as Palladium Prices Retreat

March 01, 2012

OAO GMK Norilsk Nickel (GMKN), the world’s largest producer of palladium, fell the most in more than a week in Moscow trading today as prices for the metal declined.

Norilsk slid as much as 1.9 percent, the steepest intraday drop since Feb. 22, and traded down 0.9 percent at 5,725 rubles at 3:27 p.m. in Moscow.

Palladium for June delivery fell as much as 1.3 percent today to $702 per ounce in New York.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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