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05 Dec

Nornickel expects higher nickel surplus in 2023

Russian miner Nornickel has revised its global outlook forecast, predicting a surplus of over 250,000 tonnes of nickel in 2023, compared to 200,000 t previously, Kallanish notes. The company attributes the revision primarily to lower-than-expected nickel consumption in the battery sector due to the continuing destocking cycle in the electric vehicle supply chain. A greater share of non-nickel, lithium-iron phosphate batteries, and a parti…
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