In December, world's largest nickel producer, Norilsk Nickel (LSE:MNOD), experienced its largest drop in a month due to investors betting that the company will pay lower dividends than expected. Bloomberg reported that Norilsk stock retreated up to 3.3 percent before closing down 2.1 percent on the Moscow stock exchange.Number-one iron ore producer Vale said last month that it will take a US$2.85-billion pretax writedown on Onca Puma. The announcement came after the Brazilian ferronickel operation was stopped in June and nickel prices declined. Vale also announced a before-tax impairment charge of $1.3 billion at Hydro, a Norwegian aluminum producer in which Vale has a 22 percent stake.
Misunderstood Nickel Could Rally In 2013
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