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.
For the calendar year ending December 31, 2023 Ramu produced 33,604 tonnes of nickel and 3,072 tonnes of cobalt contained in mixed hydroxide precipitate (“MHP”), exceeding Ramu’s design capacity for a 7th consecutive year.
The global nickel market had a surplus of 23,900 metric tons in September, up from a surplus of 14,200 tons in the same month of last year, data from the International Nickel Study Group (INSG) showed on Wednesday.
The global nickel market had a surplus of 28,600 metric tons in July, compared with a surplus of 15,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Thursday.