"Spetscable": The Situation with the Prices on Copper in Russia is Paradoxical, but Understandable
Following the collapse of oil prices, copper futures has dropped to their four-year lowest mark. On November 28, the cost of three-month futures has dropped by 3.7%, down to 5 482 dollars per copper ton. London Metal Exchange (LME) has seen the 3.1% drop to 6 351 dollar price mark. Since the beginning of the year, the prices have already dropped by 14%. In addition, during London trading sessions, prices of nickel and tin has remained at their usual level. RUBEZH magazine has interviewed one of the cable product market experts and asked about the influence of the global cost of copper on the domestic prices in the cable products segment.
According to Dmitry Musienko, Head of sales department of Research and Production Enterprise "Spetscable", it is unlikely that the prices on copper should drop in Russia. Despite the reduction in dollar prices on the London Metal Exchange, the rapid growth of exchange rates continues to increase the ruble purchase price within Russia. Over the last month - from early November to early December – the copper price saw an increase by more than 10%. Musienko has noted that it is very unlikely that the global price collapse will reduce copper prices in Russia, and it is very likely that the Russian prices will remain at the same level, more or less.Источник: ruscable.ru