Nickel surplus to widen this year
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Norilsk Nickel doubled its nickel surplus forecast for 2023 to 220,000 tons compared to the previous estimate. This is stated in the world market review published by the company on May 31. The company made its previous forecast at the end of November 2022.
Most of the surplus comes from low-grade nickel, the review notes, while Nornickel expects a high-grade metal surplus of over 40,000 tons. Nornickel specializes in high-grade nickel. In 2022, the company increased nickel production by 13% to 218,970 tons.
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