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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(GMKN)
  Report
End-of-day quote Moscow Micex - RTS  -  2022-07-07
16720.00 RUB   +1.03%
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09/19Russian Mining Group Nornickel Plans Hiking Employees' Stake to 25%
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09/16Nornickel provides further update on noteholders' consent solicitation
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Copper hits 3-week high on softer dollar, China demand hopes

07/29/2022 | 03:53am EDT

July 29 (Reuters) - London copper prices hit a three-week high on Friday on a weaker U.S. dollar and hopes of demand recovery in top consumer China, although mounting recession fears still kept it on track for a fourth consecutive monthly fall.

Three-month copper on the London Metal Exchange rose 1% to $7,837 a tonne, as of 0737 GMT, its highest since July 8.

The most-traded September copper contract on the Shanghai Futures Exchange ended daytime trading up 1.7% to 60,100 yuan ($8,928.70) a tonne.

China's factory activity likely expanded at the fastest pace in a year in July, a Reuters poll showed on Friday, as production in COVID-hit manufacturing hubs resumed after emerging from lockdowns.

The dollar index fell 0.5% to a more than three-week low, making greenback-denominated metals less expensive for other currency holders.

Copper, which is used as a gauge of economic health by investors, has declined by about 5.2% this month, tracking its longest monthly run of losses since August 2015.

Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction that the world economy is headed inexorably towards recession.

DATA: The U.S. economy unexpectedly contracted in the second quarter, raising the risk that it was on the cusp of a recession.

"Despite the dovish Federal Reserve boosting anticipatory assets like stocks, commodities trade in the real world of gloom and recessionary doom," said Stephen Innes, managing partner at SPI Asset Management.

"I think the Fed will stay on its mission to tame inflation at the expense of growth and that will limit copper's top side ambitions."

COVID: China is sticking to its "dynamic zero-COVID" policy, state media said after a high-level meeting of the ruling Communist Party on Thursday.

FACTORY OUTPUT: Japan's factories ramped up output at the fastest pace in more than nine years in June as disruptions due to China's COVID-19 curbs eased.

NICKEL: Russian metals producer Nornickel said on Thursday its second-quarter nickel production fell by 6% quarter-on-quarter to 48,472 tonnes.

PRICES: LME aluminium rose 0.8% to $2,476.50 a tonne, zinc jumped 1.9% to $3,218.50 and lead gained 1% to $2,017, while nickel eased 0.1% to $21,910 and tin fell 0.4% to $24,255.

Shanghai aluminium gained 2.2%, zinc rose 4%, nickel climbed 2%, lead added 0.4% and tin gained 0.5%.

($1 = 6.7421 Chinese yuan) (Reporting by Brijesh Patel in Bengaluru; editing by Subhranshu Sahu and Jason Neely)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.51% 0.64993 Delayed Quote.-10.08%
BRITISH POUND / US DOLLAR (GBP/USD) 0.28% 1.08283 Delayed Quote.-19.80%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.57% 0.73181 Delayed Quote.-7.03%
DOW JONES FXCM DOLLAR INDEX 0.01% 13436.05 Real-time Quote.10.45%
EURO / US DOLLAR (EUR/USD) -0.22% 0.96664 Delayed Quote.-14.81%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.44% 0.012254 Delayed Quote.-8.35%
MINING AND METALLURGICAL COMPANY NORILSK NICKEL 1.03% 16720 End-of-day quote.-26.76%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.36% 0.57199 Delayed Quote.-15.97%
S&P GSCI ALUMINUM INDEX -0.44% 136.6111 Real-time Quote.-23.06%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.61% 7.16336 Delayed Quote.11.97%
All news about MINING AND METALLURGICAL COMPANY NORILSK NICKEL
09/19Norilsk Nickel Puts Rusal Merger Talks on Halt
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09/19Russian Mining Group Nornickel Plans Hiking Employees' Stake to 25%
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Financials (USD)
Sales 2021 17 852 M - -
Net income 2021 6 512 M - -
Net Debt 2021 4 952 M - -
P/E ratio 2021 7,30x
Yield 2021 20,1%
Capitalization 40 553 M 44 425 M -
EV / Sales 2020 3,55x
EV / Sales 2021 2,90x
Nbr of Employees -
Free-Float 34,3%
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Mining and Metallurgical Company Norilsk Nickel Technical Analysis Chart | MarketScreener
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Mean consensus -
Number of Analysts 0
Last Close Price 16 720,00
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Managers and Directors
Vladimir Olegovich Potanin President & Chairman-Management Board
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Andrey Bougrov Senior Vice President-Sustainable Development
Sergey Stanislavovich Stepanov Operational Director & Senior Vice President
Evgeny Arkadievich Shvarts Independent Director