BMI says outlook for Russian nickel sector bleak

Fitch group company BMI has lowered its forecast for Russian nickel production in 2017, and says the outlook for the country’s domestic production over the next five years looks bleak. BMI stated this week that Russia’s nickel production would remain on a negative trend this year, following a contraction of 4.8% year-on-year in 2016, citing ongoing operational challenges at Norilsk Nickel mines, which account for more than 80% of domestic output.