Demand for nickel in China has fallen, traders said Thursday, although prices for the commodity have been hitting record highs. Nickel prices hit US$31,950 a tonne Monday, a high for the metal used in stainless steel and other metals as an anti-corrosive. Traders said importers in China, which accounts for about 15% of the world's nickel, are moving to take only the minimum amounts allowed by their contracts with suppliers abroad, the Hong Kong Standard reported. China's imports of refined nickel rose 4.4% during the first eight months of this year from 2005 to 59,861 tonnes.
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