Nornickel

EU banned Murmansk port transactions but Russian nickel still reaches Western markets; Nornickel's Q1 output fell sharply and it accelerated China copper JV talks

The EU's 20th sanctions package closed one export channel but Global Witness found gaps; Q1 2026 palladium output fell 10-11%; Nornickel is negotiating a 2Mt/year copper concentrate JV with Xiamen C&D

What They're Not Saying ·7 takes ·Jun 26