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SunSirs: Russia's Nornickel: Global nickel Market will have a Supply Surplus of 150,000 tons in 2024-25

December 11 2024 13:20:40     

Nornickel, the world's largest palladium and leading nickel producer, reportedly predicted on Tuesday that the global nickel market will still have a supply surplus of 150,000 tons in 2024-25. The palladium market will be close to supply and demand balance in 2024 and reach balance in 2025. The company said the high-grade nickel market surplus was mainly due to the influx of cathode nickel from China. Nornickel is not subject to direct Western sanctions, but sanctions against Russia have prompted some Western producers to avoid buying Russian metals, and complex payments have prevented Nornickel from shifting sales to Asia.

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