Norilsk Nickel expects balance in palladium market in 2026

Norilsk Nickel expects balance in palladium market in 2026 The platinum market will remain in a deficit of 0.7 million ounces in 2026, the company notedMOSCOW, June 23. /TASS/. Norilsk Nickel anticipates a balance in the global palladium market in 2026 and expects a deficit of 0.7 million ounces in the platinum market, according to the company's review of the global metals market. "The palladium market is expected to be balanced in 2026: industrial demand will be 9.1 million ounces against a supply of 9.4 million ounces, while 0.3 million ounces will be accumulated as investment stocks. In 2027, the surplus before accounting for investment demand will be 0.2 million ounces," the mining and metals company said. The platinum market will remain in a deficit of 0.7 million ounces in 2026, considering investment demand: industrial demand will be 6.9 million ounces against a supply of 7.1 million ounces in 2026, while the accumulation of investment stocks is expected to be at 0.9 million ounces, the company noted. "In 2027, industrial demand for platinum is forecasted to remain at 6.9 million ounces, while supply will increase to 7.2 million ounces, but considering investment demand, the market is likely to remain in a state of deficit," Norilsk Nickel added. Primary supply has its constraints, Norilsk Nickel informed. According to forecasts, global palladium production will decrease by 2% this year, to 6.1 million ounces, while platinum production will remain at 5.4 million ounces. "In Russia, the temporary decrease in production is associated with Norilsk Nickel working on deposits with lower platinum group metals content, while recovery is expected next year as production shifts to areas with higher metal content and Russian Platinum company will put it Chernogorskoye deposit on stream," it added. Secondary supply remains below pre-pandemic expectations. Platinum recycling will increase by 3% this year to 1.6 million ounces, and by another 3% next year to 1.7 million ounces. Palladium recycling will increase by 7%, to 3.2 million ounces this year and by 6%, to 3.4 million ounces in 2027. At the same time, industrial demand for palladium (excluding the automotive and jewelry industries) is expected to grow by 5% this year to 1.6 million ounces, and for platinum by 4% to 2.7 million ounces. The growth will be driven by electronics, artificial intelligence infrastructure, semiconductors, datacenters, hard drives, as well as the ongoing expansion of petrochemical and refining capacities in Asia, the company said. Norilsk Nickel also anticipates weakening demand for platinum in the jewelry sector following a sharp increase in Chinese production. Norilsk Nickel forecasts moderate surplus on copper marketDemand for copper has remained stable despite higher energy prices, the company statedRead moreRussian ombudswoman says UN responded to her appeal over Ukraine’s attack on collegeAccording to Yana Lantratova, the Office of the High Commissioner for Human Rights asked that Russia share available results of the official investigationRead moreArgentina beats Austria, reaches FIFA World Cup knockout stage as Messi shines againBoth goals were scored by Lionel MessiRead moreEU aid to Ukraine frozen — BorrellThe ex-chief of EU diplomacy said the situation is similar with the approval of new sanctions against RussiaRead moreSecurity of BRICS countries under threat — ShoiguThe Russian Security Council secretary said the situation surrounding "such a notorious mechanism" as the International Criminal Court, whose activities pose a direct threat to the national sovereignty of non-Western countries, deserves special attentionRead moreIran divides countries into three categories based on use of Strait of Hormuz — TVAccording to the TV channel, all states are divided into three categories — "hostile," "neutral," and "friendly"Read moreRussian troops strike Ukrainian long-range UAV assembly sites over past day — top brassRussia’s Battlegroup Center inflicted roughly 330 casualties on Ukrainian troops and destroyed three enemy armored combat vehicles in its area of responsibility over the past day, the Defense Ministry reportedRead moreWhat we know about foiled terror plot targeting law enforcement officers in PyatigorskThe two detainees confessed that they had acted on instructions from agents of Ukrainian special servicesRead moreBy militarizing their economies, EU nations try to mitigate crisis — senatorTo that end, Europeans have designated Russia as their "enemy at the gates," Alexey Pushkov saidRead moreEU not interested in Ukraine talks — senior Russian diplomatAccording to Alexander Grushko, the EU does not want to create the conditions for such negotiationsRead moreIran to hit more targets if US attacks Kharg Island — ambassadorTehran’s Ambassador to Zimbabwe Amir Hossein Hosseini also expressed hope that the conflict would be resolved diplomaticallyRead moreWest holds back from launching drones at Russia over retaliation fears — PutinThe Russian leader pointed out that "when some Ukrainian drones fly over the Baltic states, they don’t attribute them to Russia"Read moreRussian, Iranian diplomats discuss US-Iran memorandumThe discussions focused on the "prospects for the implementation of the memorandum of understanding between Iran and the United States on ending the armed conflict in the Middle East"Read moreWest ready to use any means necessary to contain its competitors — Kremlin aideYury Ushakov noted that Western sanctions against Russia are "pouring in like from a bucket"Read moreRussian forces crush larger part of Ukrainian troops in Konstantinovka, Krasny LimanMilitary expert Andrey Marochko said the Ukrainian defenses collapsed in some frontline sectorsRead moreGlobal instability caused by Western elites — Russian senior security officialSergey Shoigu underscored that "the neocolonialists who have adapted to live at the expense of others in the race for resources and influence are not hesitant to use any methods including 'tariff wars' and unilateral sanctions"Read more18 civilians, including teenager, injured in Ukraine’s drone attacks on DPRThe attacks also damaged four civilian infrastructure facilitiesRead moreRisk of Russia-NATO direct military confrontation on the rise — senior diplomatAlexander Grushko added that NATO has no intention to allow peace in UkraineRead moreRussian diplomat says EU lacks interest in Ukraine talks, seeks to demonize MoscowAccording to Russian Deputy Foreign Minister Alexander Grushko, the West is using Ukraine as an expendable resource in its hybrid war against RussiaRead moreRussia ready to cooperate with Germany, but no ultimatums — Russian ambassadorUnlike many Western politicians, German citizens do not want a confrontation with Russia, Sergey Nechayev emphasizedRead moreUkraine intensifies drone strikes on Zaporozhye nuclear plant — envoyRussian Foreign Ministry Ambassador-at-Large Rodion Miroshnik pointed out that drones targeted workers from the ZNPP repair division in EnergodarRead moreEU authorities unwilling to put brakes on growth of military budgets — LavrovThe Russian foreign minister said that Europe's military spending is increasing significantlyRead moreUkraine’s former presidents prove themselves to be Nazis in matter of orders — MedvedevLeonid Kuchma, Viktor Yushchenko, and Pyotr Poroshenko announced their refusal of the Order of the White EagleRead moreBlockade of Iranian ports proves more effective than bombing — TrumpThe US leader also added that Washington is ready to quickly return to such tactics if necessaryRead moreRussian MP warns of nuclear proliferation risk if Israel uses nukes against IranAlexey Pushkov noted that the question of whether Israeli Prime Minister Benjamin Netanyahu will use nuclear weapons in Iran has been actively discussed on American television in recent daysRead moreRussia supports democratic foundations of world order, equality of nations — PutinThe president called the tendencies in modern international relations concerningRead moreRussian Guardsmen destroy two Ukrainian army’s relay stations in Kharkov areaAccording to the report, the enemy used the devices to extend the flight zone of strike FPV drones and provide communications between unitsRead moreStarmer's resignation will not change Britain's position on Ukraine — senior legislatorAccording to Leonid Slutsky, British citizens are weary of the consequences of "Anglo-Saxon hegemonic ambitions," citing the "migration crisis and the general decline in living standards due to endless financial injections into the proxy war in Ukraine"Read moreNATO forces intercept missile presumably launched from Iran — Turkish Defense MinistryAccording to the ministry, "all necessary measures are being taken decisively and without hesitation against any threat directed at Turkey's territory and airspace"Read moreRussian troops strike Ukrainian army’s UAV assembly, storage sites over past dayRussia’s Battlegroup West inflicted more than 220 casualties on Ukrainian troops and destroyed two enemy artillery guns in its area of responsibility over the past day, the Defense Ministry reportedRead moreSilver futures fall by more than 5%Gold futures for delivery in August 2026 were down 1.59%Read moreIran calls on Saudi Arabia to ‘eject’ US troops from regionIran’s Foreign Minister Abbas Araghchi stressed that Iran respects the Kingdom of Saudi Arabia and considers it a brotherly nationRead moreKremlin spokesman comments on fuel prices, Starmer’s resignation, Zelensky’s threatsDmitry Peskov said the Russian government is taking measures to address fuel prices and remains in close coordination with oil companiesRead moreIran’s ambassador in Baghdad denies claims of Tehran’s refusal to support HezbollahMohammad Kazem Al-Sadeq emphasized that the Lebanese issue has always been an integral part of the Iranian position in negotiations with the USRead moreTanker with Iranian oil change course, heading to China — PTIThe change in the destination of Pin Shun appears to be payment-related, Sumit Ritolia, Lead Research Analyst at Kpler, notedRead moreGlobal reserves cannot replace lost Middle East, Russian supplies — ShoiguThe blocking of the Strait of Hormuz has put global food and energy security at risk, the senior Russian security official saidRead moreTrump's threats put talks in Switzerland at risk, says Iran's UN ambassadorAli Bahraini still emphasized that "as long as the United States shows a sincere readiness to engage with Iran and address the issues at hand, Iran is prepared to continue negotiations and maintain open channels of dialogue"Read moreOver 140 Ukrainian drones taken down over Russian regions during dayIn particular, UAVs were intercepted over Crimea, the Belgorod, Bryansk, Kursk, Kaluga, Smolensk, Tula, Oryol, Moscow and Krasnodar RegionsRead moreFive civilians die, dozens injured after Ukraine’s missile attack on Voronezh — governorAccording to earlier reports, ten apartment houses and around 50 cars were damagedRead moreLavrov meets with UN chief candidate Espinosa — Russian Foreign MinistryMaria Espinosa presented her campaign platformRead moreKremlin comments on fuel situation in CrimeaIntensive work is underway to minimize the negative consequences of the barbaric actions of the Kiev regime, Dmitry Peskov saidRead moreWest has failed as mediator on Ukraine, cannot be taken seriously — LavrovThe foreign minister stressed that Moscow is focused is on achieving the objectives of the special military operation at presentRead moreMessi becomes leading goalscorer in World Cup historyThe Argentinian player netted his 17th ball in a a FIFA World Cup match, breaking his joint record with Germany's Miroslav KloseRead moreUkraine mulls banning its citizens in Russia, Belarus from votingUkrainian Foreign Ministry’s State Secretary Alexander Karasevich said that various opinions had been voiced by the working subgroupRead moreTrump says he can resolve Israel’s troop withdrawal dispute with LebanonThe US leader emphasized that he is "a problem solver"Read moreTwo Germans attempt Poland-Russia crossing with forged documentsBoth individuals received fines of 8,000 zloty each, and thereafter continued their journey into Russia as passengersRead moreEU sanctions against Russia punish Europeans — Spanish politicianJavier Hurtado Mira pointed out that "sanctions are like shooting oneself in the foot, and that applies not only to Spain but to the entire European Union when it comes to the rising cost of living and inflation"Read moreBRICS nations support idea of establishing rapid reaction mechanism — ShoiguAccording to the senior Russian security official, the idea is to appoint authorized persons who should streamline coordinated approaches within BRICS regarding international issues, emergencies, and crisesRead moreWest’s preparations for war with Russia, its readiness to respond: Putin's commentsThe leadership of NATO countries and the European Union uses false statements about the alleged Russian threat to increase their military budgets, the Russian leader notedRead morePutin rejects Western allegations about Russian threat as false claimsAs the Russian leader emphasized, the West is openly discussing preparations for war with Russia and increasing its defense budgetsRead moreTrump convenes Pentagon, defense companies to discuss ramping up missile production — WSJAccording to the newspaper, Trump plans to urge defense contractors to expedite their work to replenish US arsenals, depleted amid the conflict with IranRead moreUkraine loses 9,500 troops, mercenaries in special military op zone in past week — expertAccording to Andrey Marochko, the upward casualty trend in the Ukrainian army has persisted for the fifth consecutive weekRead moreRussia never threatened NATO, EU — senior diplomatAccording to Alexander Grushko, NATO launched a campaign to look for an enemy and eventually found oneRead moreUkrainian forces' attacks on Energodar particularly sophisticated — Rosatom CEOAlexey Likhachev said the enemy targeted the transport workshop and the city's energy infrastructureRead more13 dead, 66 injured: consequences of explosion at plant in QatarAccording to the ministry, no leaks of hazardous substances occurredRead moreUS economy undergoing militarization — Kremlin spokesmanUS President Donald Trump earlier announced plans to meet with representatives of the country’s largest weapons manufacturers on June 24Read moreRussia identifies Ukrainian military personnel responsible for attack on bus in BryanskMeasures were taken to put them on the international wanted list and to subsequently select a preventive measure in the form of detention in absentiaRead moreWest is entering new phase of war against Russia — senior legislatorAlexey Pushkov believes that actions such as providing Ukraine with intelligence for strikes on Russian industrial, military, and civilian targets are among the main indicatorsRead moreTucker Carlson says will not support Republican PartyUS journalist stressed that the Republican Party puts the interests of a foreign country above those of its own citizensRead moreRussian security official, his BRICS counterparts to discuss security threatsRussian Security Council Secretary Sergey Shoigu is also expected to hold several bilateral meetings with heads of delegations from leading BRICS countriesRead moreUS-Israeli strike on humanitarian aid aircraft in western Iran reportedThe Civil Aviation Organization of the Islamic Republic called on all international bodies to take appropriate measures in response to this incidentRead moreDouble attack on security officers thwarted in Russia’s Pyatigorsk — FSBAccording to Russia’s Federal Security Service, no one among law enforcement officers or civilians was injuredRead moreZelensky's threats against Belarus, response to Europe’s militarization: what is knownRussian and Belarusian presidents, Vladimir Putin and Alexander Lukashenko plan to meet soon to discuss, among other things, Zelensky's threatsRead moreTrump says Iran has 48 hours to make deal or open straitTime is running out: 48 hours remain before all hell rains down on them, US President saidRead moreChina launches communication satellite into orbit for tech testsThe spacecraft is designed to provide satellite communications, radio and television broadcasting, data transmission, and to conduct tests and verification of new technologiesRead moreINTERVIEW: EU seeking to 'bring NATO into Ukraine' — Russian senatorThe United Kingdom, France, and Germany are pushing to have NATO troops deployed to Ukraine, Alexey Pushkov, chairman of the information policy commission of Russia’s Federation Council, or upper house of parliament, saidRead more'Signs of shift' in US position on Anchorage, dialogue on Ukraine: Ryabkov’s statementsAccording to the Russian diplomat, Moscow remains committed to the understandings reached between Russian President Vladimir Putin and his US counterpart Donald Trump in AlaskaRead moreMoscow faces one of largest drone attacks in two years — TASS estimatesThe latest reports say that air defenses have shot down 84 enemy drones heading for Moscow since midnightRead morePress review: EU seen as preparing for war with Russia while Zelensky threatens BelarusTop stories from the Russian press on Monday, June 22ndRead moreUS biolabs, energy situation, West’s role: top Russian security official’s statementsSergey Shoigu added that the events unfolding in Ukraine and Europe are creating fertile ground for extremism and violenceRead moreLavrov comments on Europe’s revanchism, Zelensky's comfort playing 'fuhrer' roleThe Russian top diplomat highlighted that the current elites in Europe made no secret of their preparations for a war against Russia in the near futureRead moreFord, General Motors may produce weapons, including Patriot, Tomahawk — TrumpUS President Donald Trump said that "some of the car companies, if they have any excess capacity, they're making a deal to build missiles, and the Patriot, in particular"Read moreAnother strike hits area near Bushehr Nuclear Power Plant in IranOne of the facility’s security guards was killed, Iran’s AEOI saidRead moreRussia upgrades T-90 tank using troop feedback from battlefield — RostecThe knowledge of fighters is useful for modernizing hardware and creating new models, Rostec Deputy CEO Nikolay Volobuyev saidRead morePezeshkian asks global community to judge which side, Iran or US, actually favors dialogueIranian President Masoud Pezeshkian invited the world to judge which side engages in terrorismRead moreIN BRIEF: What we know about series of quakes off SevastopolAs many as seven earthquakes continued off Sevastopol for four hoursRead moreUS military aircraft struck by Iran makes it to Kuwait — TVIran also fired at two US UH-60 Black Hawk helicopters conducting a search and rescue operationRead moreTechnical US-Iranian talks in Switzerland to continue — VanceSumming up the results of the recent US-Iranian meeting, the US Vice President called the talks "very productive"Read moreUpper house speaker slams US-Israeli operation against Iran as geopolitical mistakeValentina Matviyenko emphasized that this intervention has destabilized the Middle East, triggering an energy crisis, yet it ultimately changes nothingRead moreUS license for Iranian oil transactions does not apply to Donbass, Crimea — TreasuryThe license allows buyers to make payments for Iranian oil and petroleum products in US dollarsRead moreMacron pledges to pursue joint political course with UK after Starmer resignsThe French president thanked Keir Starmer for supporting the initiative to create the so-called 'coalition of the willing', that provides military assistance to the Kiev governmentRead moreTu-160s conduct scheduled flight over Barents, Norwegian seasEscort support was provided by MiG-31 crewsRead moreMoscow to respond in case West uses Russian frozen assets — diplomatAny use of Russian assets for purposes not agreed with the Russian Federation is blatant robbery, Russian Deputy Foreign Minister Sergey Ryabkov stressedRead moreWhat to know about Zelensky losing Order of White Eagle, threats to Polish leaderPolish President Karol Nawrocki stripped Vladimir Zelensky of Poland’s highest state award, the Order of the White EagleRead moreOil, gas shipments via Strait of Hormuz back to pre-crisis levels — US Energy DepartmentUS Energy Secretary Chris Wright also noted that a record daily volume of energy shipments through the Strait of Hormuz was recorded two days agoRead morePress review: UK PM to continue predecessor policy as US reshapes oil market beyond OPEC+Top stories from the Russian press on Tuesday, June 23rdRead moreFurther phases of BRICS expansion will follow, says South African presidentIt is noted that the membership will take effect from January 1, 2024Read moreRussia crushes new incarnation of Nazism in Europe through special military op — envoyAlexander Darchiev stated that "reckless figures in Germany, having forgotten the lessons of history, now dream of a 'Fourth Reich' and a new march eastward"Read moreEU preparing for possible energy supply crisis due to conflict in Iran — Spanish newspaperThe EC assures that there is currently no risk to supplies, though markets are feeling the impact of rising Brent crude oil prices, which has led to higher gas and oil prices in EuropeRead moreGeneral HQ of Iranian army warns of potentially larger strikes on Tel AvivThe Iranian military also advised "host countries of US military bases to force the Americans to leave their territory, if they want to avoid damage"Read moreIran agrees to create Hormuz hotline to prevent incidents — parliament speakerMohammad Bagher Ghalibaf emphasized that the management of the strait will never be carried out in the same way as before the warRead moreSoviet Union won right to live freely, shape its own future in war against Nazism — envoyRussian Ambassador to the United States Alexander Darchiev noted that the Soviet people won the war because they were stronger in spiritRead moreUS military biolab network expanding worldwide — senior Russian security officialSergey Shoigu said there are about 120 facilities in totalRead moreUS Coast Guard reports helicopter crash in AlaskaThe cause of the incident remains unknown.Read moreUS economic militarization and oil price trends: topics of Kremlin’s briefingDespite fluctuations in the global oil prices, the macroeconomic stability of the Russian economy is firmly maintained, Dmitry Peskov emphasizedRead moreRussian armed forces actively implement AI, robotic systems — defense ministerAndrey Belousov emphasized the crucial role of human judgment in this technological landscapeRead moreRussia expects not implementation of Anchorage agreements, but victory — KremlinYury Ushakov noted that those who hope to defeat Russia "are mistaken"Read moreIran demands Israeli troop withdrawal from Lebanese territoryAli Bahraini, Iran’s Permanent Representative to the UN in Geneva, noted that negotiations between the parties in Switzerland on June 21 continued late into the nightRead moreG7 at Evian summit encouraged itself to impose its rules more brazenly — Kremlin aideYury Ushakov noted that the outcomes of the Kazan meeting clearly showed that Moscow’s partners, especially in Southeast Asia, "want to live not by someone else’s rules, but in a just, multipolar world"Read more'Ukrainian drama changeover,' EU tries to spoil Anchorage: Kremlin aide commentThe West is interpreting the world order based on rules that it has created for itself and its own selfish interests to maintain its waning dominance, Yury Ushakov saidRead moreIsrael, US attack amusement park in central IranNo information on casualties or damage has been reported yetRead more