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Russia's Norilsk Takes Rosy Outlook for Nickel Price, with H1 Profit Triples

iconSep 2, 2014 10:22
Source:SMM
Norilsk Nickel’s net profit tripled in the first half of this year, the company said in its first-half 2014 interim financial results, taking bullish outlook for nickel in the medium term

SHANGHAI, Sept. 2 (SMM) – Norilsk Nickel’s net profit tripled in the first half of this year, the company said in its first-half 2014 interim financial results.  

“We remain bullish on nickel in the medium term assuming that the Indonesian ban remains in place unaltered”, the company noted in the report. 

The company also expected NPI output in China to reduce by over 50,000 tonnes year-on-year in 2014 and at least another 150,000 tonnes year-on-year in 2015. 
 
“We expect that marginal supply growth will not match the increase of global metal consumption, thus driving the nickel market to balance this year and to a sizeable deficit in 2015”, it added.
 
Norilsk Nickel is the largest nickel and palladium producer in the world.  
 
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