📰 LME Suspends Deliveries of Nickel from Norilsk Nickel's Harjavalta Plant in Finland

According to a Bloomberg report on July 3, 2024, the London Metal Exchange (LME) has suspended the delivery of nickel from the Harjavalta plant owned by MMC Norilsk Nickel PJSC in Finland. Despite Western sanctions on Russian metals, the company's products can still be delivered.

On Wednesday, the LME stated in two separate notices that from October 3, deliveries of new nickel cathodes and pellets from Norilsk's Harjavalta plant will no longer be allowed.

The exchange did not specify the reason for this action, but it has delisted many metal brands this year after requiring them to comply with responsible sourcing regulations.

📈 Overview

According to the annual report of Norilsk Nickel, the Harjavalta plant is a major producer of refined nickel, with a total capacity of 65,000 tons per year, while the company's total output last year was 208,000 tons.

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