MOSCOW, July 21. /TASS/. Norilsk Nickel lowered the nickel production output by 4% year on year to 87,000 metric tons in the first half of 2025, the company said.

Palladium production contracted to 1.4 mln Troy ounces, down 5%. Platinum production fell by 6% to 335,000 Troy ounces in the first half of this year. Copper production dropped by 2% to 213,000 metric tons.

Norilsk Nickel earlier lowered its forecast for the nickel market surplus globally to 120,000 metric tons in 2025 and 130,000 metric tons in 2026 in the corporate metal markets review. The final value of the surplus will largely depend on stability of the demand for premium grade nickel in China, the company said.