Russia's largest nickel producer Norilsk Nickel (Nornickel) said on Wednesday that the global nickel market is expected to see a surplus of more than 200,000 mt this year, higher than the estimated 120,000 mt in February.
The surplus is expected to exceed 180,000 mt next year. Norilsk Nickel also revised its forecast for a palladium deficit this year to 200,000 ounces from a previous estimate of 300,000 ounces.
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