OAO GMK Norilsk Nickel, the world’s largest producer of nickel and palladium, declined after Interfax reported Russia raised the export duty on nickel by 16 percent.
Norilsk fell 0.8 percent to 4,880 rubles by the close in Moscow, after losing as much as 1.4 percent earlier.
The Russian government raised the export duty on nickel by 16 percent to $1,447.6 a ton, Interfax reported. The tariff went into effect today, according to the news service.
To contact the reporter on this story: Ksenia Galouchko in Moscow at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org