Russia separates metal prices from the London Stock Exchange
The head of the Ministry of Industry and Trade of the Russian Federation, Denis Manturov, said that metallurgical experts and Russian departments have agreed to separate domestic prices for metals from prices on the London Stock Exchange.
According to him, it was decided to calculate the domestic market on the basis of the ruble component – in the future it will also form the price structure of the domestic market.
“This includes reaching decisions with the Ministry of Finance about the effectiveness of those taxes, those fees that, on the one hand, will not burden the enterprises, give them the opportunity to maintain the difference, and run their main production cycle,” Manturov said. .
He stressed that all ministries are in constant contact regarding the construction of infrastructure, and its development will meet the demand for the mineral.
Earlier it was reported that the London Metal Exchange plans to ban products from Russia. The head of the exchange, Matthew Chamberlain, said that Russian metals are not subject to sanctions, and their deliveries are allowed. However, Chamberlain said the LSE wanted to make sure it was “not funding the commission of any atrocities”.
