Russia’s Nornickel, the world’s largest producer of palladium and a major producer of refined nickel, on Friday said it plans to sell everything it produces in 2025, despite challenging conditions in the metals markets.
Nornickel is not subject to direct Western sanctions, though restrictions against Moscow have prompted some Western companies to avoid buying Russian metal and complicated payment flows, leading Nornickel to redirect sales to Asia.
In April, the London Metal Exchange banned deliveries of newly-produced Russian aluminum, copper and nickel to the LME-registered warehouses to comply with US and UK sanctions that are aimed at trying to disrupt Russian export revenues.
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