Gold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average...
READ MOREGold prices climbed on Thursday, supported by expectations of a US Federal Reserve rate cut next week, while palladium reached its highest level in over two months due to potential supply disruptions from Russia. Spot gold rose by 0.3%, trading at $2,517.88 per ounce at 0942 GMT, bolstered by support from the 21-day moving average...
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Nornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million,...
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Nornickel has announced its production results for the first half of the year and the second quarter of 2024. According to its statements, the company’s nickel smelting remained almost unchanged at 90,000 tons for January-June 2024. Copper output increased by 7% to 219,000 tons. Palladium output was stable at approximately 1.5 million troy ounces, while...
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The global platinum mining industry, particularly in South Africa, the largest producer, is grappling with significant challenges as weak demand has led to revenue losses and job cuts. This downturn threatens the viability of the sector, which is critical to the global energy transition due to platinum’s essential role in making electrolysers and fuel cells...
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Nornickel has expressed concerns following the recent sanctions imposed by the US and the UK on the import of aluminum, nickel, and copper from Russia. A company spokesperson stated that these restrictions are likely to increase market volatility, heighten supply chain uncertainties, and ultimately escalate the prices for end users globally. The representative emphasized that...
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The global nickel markets have witnessed significant shifts, largely due to Indonesia’s assertive entry, offering cheaper supplies and thereby reshaping the competitive landscape. Notably, the price of nickel plummeted by more than 40% over two years, illustrating the impact of Indonesia’s aggressive market strategy. Despite this, there’s a consensus among experts that Russia, with its...
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In the ever-fluctuating world of metals, Norilsk Nickel, the global titan in palladium and top-tier nickel producer, faced a turbulent 2023. With the markets taking a roller coaster ride, the company’s financials mirrored the ups and downs. Last year’s revenue took a 15% hit, dropping to $14.4 billion, as the prices for its core metals...
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