MOSCOW, Feb.8 -- Russia's nickel export duty as of March 5 will go down to $1,245.5 per metric ton from the current $2,117.8, according to the government decree published Tuesday on a government internet site.

The Russian government in April 2011 replaced a 10% fixed nickel export duty with a sliding duty, which depends on the prices on London Metals Exchange.

The duty is fixed every quarter after the Economic Development Ministry monitors prices on LME in the previous quarter.