Russia’s Nornickel, the world’s largest producer of palladium and a major producer of refined nickel, said on Tuesday it sees the global nickel market maintaining a surplus of 150,000 metric tons in 2024-2025.

According to the statistics, the production of refined nickel in China in November 2024 was 33,510 tons, an increase of 8.62% from the previous month and 48.64% from the same period last year.

The latest report published by the World Metal Statistics Bureau (WBMS) shows that in September 2024, the global refined nickel production was 287,896 tons, the consumption was 285,062 tons, and the supply surplus was 2,834 tons.

Japanese battery industry is targeting cleaner nickel, cobalt and copper from Tanzania’s Kabanga Nickel project, managed by Tembo Nickel.

China and Indonesia signed deals worth $10 billion at the Indonesia-China Business Forum in Beijing on Sunday, spanning sectors including food, new energy, technology, and biotechnology, Chinese state media reported.

Zhejiang Huayou Cobalt Co., one of the world’s largest nickel producers, is sounding out banks for roughly $2.7 billion in financing for its Ford Motor Co.-backed project in Indonesia, according to people familiar with the matter.

Canada Nickel Company Inc. has intersected a significant interval of massive sulphide on its Bannockburn Property located 65 kilometres south of Timmins.

LME Nickel Inventories Reach Over Three-Year High