It's reported that the nickel prices in three-month delivery at LME dropped to US$18,550/ton on October 8th due to investors' concerns on the uncertain global economy.
World Bank cut the forecast for the Chinese economic growth for this year and next year and it believed that Chinese economic slowdown will exceed the previous estimates.
According to the estimates of World Bank, China's economic growth rate this year would be at 7.7%, lower than 8.2% forecasted in this May.
Also, World Bank reduced the forecast for the Chinese economic growth rate for next year to 8.1% from the previous estimates of 8.6%.