Russia's metals giant OAO Norilsk Nickel, the world's largest palladium producer, said its palladium production for the first nine months of the year fell 5.1 percent to 2.1 million ounces.

In the third quarter the company produced 677,000 ounces of palladium, which is used in equipment that cuts pollution from cars and trucks, Norilsk said Monday. 

Third-quarter platinum output was generally in line with the approved production plan at 171,000 troy ounces, while output of platinum for the first nine months of this year was 531,000 oounces.

Meanwhile, Norilsk Nickel said net profit in the six months to June 30 fell 23 percent. compared with the year-earlier period to $1.80 billion.