Eramet is also planning to develop recycling of electric vehicle batteries in France with Suez.

Nickel volumes on the LME crashed 28% last year from 2021.

The EU is due to unveil its Critical Raw Materials Act on March 8 to secure the bloc's supply of critical raw materials.

Polymetal has not been directly targeted by Western sanctions imposed on Moscow.

Steel production accounts for about 7% of the world’s carbon emissions.

French President Emmanuel Macron called for an EU package amounting to 2% of its economic output to rival the $370 billion US plan.

Nickel and palladium production is expected to fall due to planned refurbishment at Nadezhda metallurgical plant.

Europe's energy crisis has taken a heavy toll on a notoriously power-hungry sector.