Norilsk Nickel Appoints New CEOs as India Nickel Prices Fall, Stainless Steady

Norilsk Nickel shakes up its executive look in its operations on two different continents.

Via “The new CEO of Norilsk Nickel Africa is Michael Marriott, who was previously the deputy director of Norilsk’s overseas production assets department…His predecessor, South African Wayne Venter, has been appointed CEO of Norilsk Nickel Australia.”

“Norilsk announced on April 24 that [the] Lake Johnson [ore deposit in Western Australia] was to be suspended, because it was not fully integrated into the group’s production chain and so did ‘not provide sufficient profitability levels.’ If market conditions improve and geological research proves favorable, Lake Johnson could be restarted.”

today's metal prices - MetalMiner IndXOn the MetalMiner IndX℠, the Indian nickel cash price fell 1.9 percent on Thursday, May 23, making it the day’s biggest mover.

After a 0.9 percent increase, the nickel spot price finished the day on the LME at $15,160 per metric ton. On the LME, the nickel 3-month price increased 0.8 percent to $15,225 per metric ton.

Chinese stainless steel closed mixed on Thursday. The price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

Following two days of rising prices, the price of Chinese primary nickel dropped 0.8 percent.

The prices of Chinese 304 and 316 stainless coil and scrap remained essentially flat.

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