Australian-based BHP Biliton, the largest mining company in the world, faces a declining price its main products. As nickel has dropped to the record low in 13 years. last week and China reducing the order.

On Tuesday last week, Investing News quoted the Australian Mining report that the nickel price has reached its lowest point in almost 13 years, due to th poor Chinese demand. The news outlet states that Nickel fell to US$7,900 per tonne on the LME, the lowest since April 2003.

Nickel started to climb position this week, but it dropped again for 0.8% in official rings to $8,270 a tonne. Other metals were either flat or weakening on Wednesday's trade. Aluminium dropped 0.5% to $1,514.50 and lead decline 2.2%, while copper was up 0.1% to $4,563.50 a tonne .

Amidst the volatility, Hong Kong-based Argonaut Securities is optimistic that metal will improve, even with a big cut of 200,000 tonnes of copper order from China in the first quarter. However, the broker sees the reduction of supply from Glencore and Freeport will increase the price, along with the purchase from strategic stockpiler from China. In its note, the firm said, "Copper's supply and demand fundamentals in Q1 2016 have become promising, in our view."

Analyst in ANZ Sydney Daniel Hynes told Reuters, "There's also some caution until we see some concrete Chinese data to give an indication of whether the Chinese are going to come back strongly or if they're going to sit on their hands. Until we see that, it's hard to see anyone taking any aggressive positions."

Meanwhile Bloomberg paid attention closely on nickel price, which is crucial in making stainless steel. As its volatility continues in the worldwide market such as Singapore. Meanwhile alumunium slide 1% in China and other metals in London continue to descend.

China is the largest consumers of nickel and other raw metals. As the economy is slowing down, China cut the order of raw materials in the first quarter of this year and increased its credit level. However, according to Standard & Poor on Tuesday, the credit growth will lower the country's credit rating due to its gross domestic product

The lower demand from China put pressure on nickel and raw materials. Analyst at Shanghai-based Everbright Futures Co. Xu Maili said, "Market sentiment changed as investors returned their focus to the fundamentals -- demand in China hasn't recovered from the Lunar New Year break, while production is climbing after the holidays."

As a result, shares of BHP Biliton, the largest mining company fell by 3.7% in Sydney, while Rio Tinto Group, its competitor dropped 2.5%.

BHP Biliton, the world's largest mining company in term of asset, face a declining price of its main products. As China has reduced the order of nickel and raw materials in the first quarter of 2016.