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04 Jun

Nornickel revises global nickel, copper outlook

Nornickel has reduced its forecast for global nickel surplus this year, with most of the supply glut expected to come from low-grade nickel, Kallanish reports. The Russian mining and metals giant expects the global nickel surplus to be about 100,000 tonnes in 2024, down from a previous estimate of over 190,000 t. The company anticipates the metal to remain in a surplus next year at around 100,000 t. “The rising nickel demand from the melting applications (s…
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