January 29, 2020 / 11:36 AM / a month ago

Nornickel’s fund to deliver 3 T of palladium ingots to the market

MOSCOW, Jan 29 (Reuters) - Russia’s Norilsk Nickel said on Wednesday its Global Palladium Fund would deliver 3 tonnes of palladium ingots to the market from its current stock to provide a short-term relief to the tight market.

Nornickel, the world’s largest palladium producer, observed significant tightness in the London and Zurich palladium ingot market in January, Anton Berlin, head of Nornickel’s marketing department, told Reuters via Nornickel’s press service.

He also said that Nornickel was increasing share of ingots in its output versus palladium in sponge form this year. (Reporting by Polina Devitt; editing by Louise Heavens)

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