Edition:
United Kingdom

Russia's Norilsk Nickel sees 2019 nickel market deficit at 60 T


Monday, 19 Nov 2018 

Nov 19 (Reuters) - Russian mining giant Norilsk Nickel (Nornickel) said in a presentation prepared for its 2018 annual capital markets day on Monday::NICKEL MARKET DEFICIT SEEN AT 60 TONNES IN 2019.PALLADIUM MARKET DEFICIT SEEN AT 1.4 MILLION TROY OUNCES IN 2019.DIVIDEND FLEXIBILITY HELPS CURB LEVERAGE BUT 2019-2022 INVESTMENT CYCLE MIGHT DRIVE LEVERAGE UP, OPERATING ENVIRONMENT HAS BECOME MORE VOLATILE.IN UPDATE ON GLOBAL PALLADIUM FUND, NORILSK NICKEL SEES 1 MILLION OUNCES DELIVERED TO INDUSTRIAL CONSUMERS ON TOP OF NORNICKEL'S PRODUCTION IN 2017-2018.IN UPDATE ON GLOBAL PALLADIUM FUND, IT SEES INVENTORY LEVEL AT UP TO 200,000 OUNCES AT THE END OF 2018.NORILSK NICKEL SAYS THE FUND WILL CONTINUE PURCHASING PALLADIUM AND DELIVERING IT TO INDUSTRIAL CONSUMERS IN 2019.