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[Ferro-Alloys.com]
Nornickel cuts nickel production by 10% y/y in Q1
Russian metals giant Nornickel, the world’s largest palladium producer and a major producer of high-grade nickel, cut nickel production by 10% year on year in the first quarter to 42,000 metric tons, the company said on Monday.
This month, Washington and London prohibited metal-trading exchanges from accepting new aluminum, copper and nickel produced by Russia and barred the import of the metals into the United States and Britain to try to disrupt Russian export revenue.
“The temporary decrease in nickel production was attributed to accumulation of work-in-progress inventory, which will be processed in the second quarter,” Nornickel said in a statement.
The company confirmed its 2024 production forecast, expecting nickel production to fall to 184,00-194,000 tons.
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- [Editor:邢亚敏]
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