In the traditional off-season, the demand side further weakened. Under the influence of bearish factors, the ferrosilicon futures market was fluctuating downward, and the spot market was operating under pressure.
According to Full Year 2023 Production Report released by Glencore, nickel volumes fell 9%, owing to higher third-party production at INO and Murrin Murrin maintenance.
Russian metals producer Nornickel on Monday said it expected a further decline in nickel output this year, hit by adverse geopolitical risks and postponed furnace repairs, following on from a drop in production in 2023.