The Russian metal industry is one of the leading sectors of the national economy In the 8 months of 2016 its share in total exports was second only to the fuel and energy sector and accounted for 10.5% of total Russian exports. The Analytical Center expert Grigoriy Mikryukov goes into detail about the current state of metal production in Russia and its development prospects on the pages of the Rossiyskaya Gazeta.
Aluminium Makes Up the Bulk of Russia’s Non-ferrous Metal Exports
The expert believes the future of metal production largely depends on the overall economic situation in the world. "We are seeing the prices for many non-ferrous metals falling in the global market today. This has to do with excessive supply while demand has been growing rather slowly, and primarily in the construction sector," Mr Mikryukov writes in his editorial. "Thus, the increase in copper output in Zambia and Peru has resulted in a glut of copper and has driven the prices of this metal down even further. However, despite excess supply, Russia, India and North America have continued to expand production of aluminium in 2016, which, according to the International Aluminium Institute, is going to result in even more excess supply of aluminium in the market in 2017. The nickel market also has more supply than demand: the large stocks of nickel and rising production in Indonesia are putting a significant downward pressure on the prices."
Read more in the Rossiyskaya Gazeta
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