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Nickel Falls With Most Metals as China Power Crunch Spreads
Nickel declined along with most metals as China’s power crisis spread from factories to residents, adding risks to supply chains, demand and the economic recovery. Residents in several northern provinces have already been dealing with blackouts, while traffic lights are being turned off, causing chaos on the roads in at least one major city. That shows how quickly the country’s power crisis is escalating, adding the risk of social instability to an economic slowdown and global supply chain disruptions. Economists at Nomura Holdings Ltd. and China International Capital Corp. have downgraded their growth forecasts ... (full story)