Nornickel Q1 nickel output up, palladium down

Russian metals producer Nornickel said on Monday its first-quarter nickel production rose year-on-year due to the recovery of its two mines after flooding in 2021, while palladium output fell due to a high base effect.

Nornickel, the world's largest palladium producer and a leading nickel producer, kept its previous output forecast for 2022 unchanged despite difficulties posed by the Western sanctions on Moscow. Nornickel has not been targeted by the sanctions.