Nornickel's nickel production falls in Q1
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Update time : 2024-04-26 15:36:56
According to the reports, Russia's Nornickel, the world's largest palladium producer and a major producer of high-grade nickel, said that the nickel production in the first quarter was about 42,000 tons, with a decrease of 10% compared with the same period last year.
Nornickel believes that the main reason for the reduction in production is the accumulation of work-in-progress inventory.
It is expected the full-year nickel production will drop to 184,000-194,000 tons in 2024. Nornickel also said palladium production rose 3% in the first quarter to 745 koz. In 2024, palladium production is expected to be 2,296-2,451 koz.
