Norilsk Nickel Says Nickel Will Average $20,000 a Ton

Reuters reported Norilsk Nickel (LSE:MNOD) says global average nickel prices this year will be slightly less than $20,000 per metric ton.

As quoted in the market news:

The Arctic miner, the world’s largest producer of nickel and palladium, added that at current prices below $18,000 per metric ton some 5 percent of global production is unprofitable.

About 8 percent of global capacity is at risk, said Sprogis.

Click here to read the full Reuters report.