Global Ferronickel net income slumps in 2024 as ore prices drop

By Earl John Alfaro

Mar 20, 2025 12:22 am

GLOBAL Ferronickel Holdings, Inc. (FNI) saw attributable net income in 2024 plunge by 50 percent to P743.9 million from P1.54 billion in 2023 as prices of nickel ore dropped, aggravated by demand fluctuations in its two biggest markets, China and Indonesia.

The company told the stock exchange that revenues dropped 13.51 percent from P8.8 billion in 2023 to P7.6 billion despite volume growth in shipments.

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