Norilsk's Nickel and Copper sale rises last year

Metal Recycling News  |  2012-06-08 01:40:52   |   By

Norilsk Nickel (LSE: MNOD), the world's largest nickel and palladium producer, has reported that its nickel and copper sales advanced in 2011.

MOSCOW (Scrap Monster): Norilsk Nickel (LSE: MNOD), the world's largest nickel and palladium producer, has reported that its nickel and copper sales advanced in 2011.

Nickel Sale

Norilsk's nickel sales increased 4% in 2011 to $ 6715 million year-on-year from $ 6549 million in 2010. This was driven by average Nickel sales price increase by 5% that decreased nickel sales volumes.

Average sales price of nickel produced by the Russian entities from own ore amounted to $ 23060 per tonne compared to $ 21997 per tonne in 2010.

In 2011, the volume of sales of refined nickel produced by the Group remained mostly the same as in 2010 and amounted to 284000 tones year-on-year from 285000 tones in 2010.

The decrease in sales volumes of nickel produced on the Taimyr and Kola peninsulas by 6000 tones was compensated by the growth of 5000 tones in sales volumes of nickel produced by the Norilsk Nickel Harjavalta refinery as a result of product mix optimization.

Copper Sale

The company's copper sales grew by 11% in the year 2011. The total copper sales accounted for 25% of the total metal sales in 2011.

Average sales price increased by 17% to $ 8871 per tonne in 2011 from $ 7589 per tonne in 2010.

The physical volumes of sales of copper in Russia decreased by 2% in 2011 to 358000 tons year-on-year from 367000 tones in 2010.

Scheduled decrease in Russian copper division and slight growth in metal stocks was compensated by growth in sales prices. The physical volume of sales of copper in semi products produced by Norilsk Nickel International amounted to 6000 tones.