Norilsk Sees Platinum Group Metals Demand Rising 5% Next Year
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OAO GMK Norilsk Nickel, the world’s biggest producer of nickel and palladium, predicts demand for platinum group metals will rise as much as 5 percent next year, exceeding increases of as much as 3 percent for copper and nickel, as the global economy avoids a slump as severe as that seen in 2008.
The company expects platinum group metals prices will rise next year and doesn’t see “fundamental reasons” for copper and nickel prices to fall, Anton Berlin, head of Norilsk’s analysis and market research department, said today in a telephone interview from Moscow. He declined to give specific forecasts. Norilsk’s production will be little changed next year, he said.