Nornickel Reports Q1 2026 Production Metrics: Nickel Steady, Copper Down 10%
Nornickel's nickel output remained stable at 42,000 tons in Q1 2026, while copper production decreased by 10% to 99,000 tons. The changes reflect adjustments based on previous production levels and operational shifts within divisions.
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In Q1 2026, Nornickel produced 42,000 tons of nickel, unchanged from the previous year. Copper output fell by 10% to 99,000 tons, with 80,000 tons produced excluding the Trans-Baikal division, which increased its copper production by 6% to 18,500 tons due to improved ore processing.
Palladium production dropped by 18% to 608,000 ounces, while platinum output declined by 24% to 136,000 ounces. The company's shareholder structure includes Interros at 37% and Rusal at 26.39%. The declines in precious metals may indicate market adjustment risks or demand fluctuations.
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