[mining Quarterly report] Nornickel: sales of nickel products fell 12% year on year in the first half of the year. Nickel revenue fell 16% year on year.

SMM8 March 13: Russia's Norilsk Nickel released its second quarterly report on August 11, saying that it had set aside US $2.1 billion in reserves for environmental damage compensation after a major diesel spill in the Arctic, resulting in a sharp decline in the company's net profit in the first half of 2020.

In terms of nickel, nickel sales accounted for 20 per cent of the group's total metal revenue in the first half of this year, compared with 25 per cent in the first half of 2019. The decline in the share of nickel in metal income is mainly due to the increase in the share of palladium in metal income.

In the first half of 2020, nickel revenue fell 16 per cent to $1.264 billion. The decline in sales was due to a decline in sales (- $220 million). The actual income of nickel will not be significantly affected by the change in the average price of nickel.

The average realised price of refined nickel is $12739 per tonne in 1H2020, virtually unchanged from the annual level of $12781 per tonne in 1H2019.

Sales of refined nickel from Russia's own raw materials fell 14 per cent (15000 tonnes) to 93000 tonnes due to pre-commissioning at Kola MMC's new nickel refinery and weak global demand for metals due to the coronavirus pandemic.

Sales of nickel produced by third-party raw materials fell by 50 per cent to 1000 tons, mainly due to a reduction in third-party raw material processing at the Harjavalta refinery.

Sales of semi-finished nickel fell 30 per cent to $70 million in the first half of 2020, mainly due to a decline in sales of semi-finished products.

Click to understand and sign up for the 2020 China Automotive New Materials Application Summit Forum.

Please fill in your personal information on the last page and the meeting staff will contact you later!