Russia will reinstate nickel export tax: report

Dec 21, 2009 | 10:46 AM |

The Russian government will reinstate a 5-percent tax on nickel exports next month, a year after suspending export duties due to nickel prices falling below $10,000 per tonne, the newspaper Rossiyskaya Gazeta reported Monday.

Nickel prices rose by more than $400 per tonne in pre-market trading Monday on the London Metal Exchange in the aftermath of the report, which said prime minister Vladimir Putin had signed the decree. The metal hit an intraday high....

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