Gold prices surged on Monday, climbing 1.9% to close at $2,611.73 per ounce after six consecutive days of losses. The increase came as the U.S. dollar paused its rally, and renewed uncertainty from the escalating Russia-Ukraine conflict rekindled demand for safe-haven assets. FXStreet analyst Christian Borjon Valencia noted that gold rebounded from a two-month low...
READ MOREScientists at Tomsk Polytechnic University (TPU), in collaboration with an international team, have successfully synthesized a new class of photocatalytic materials for hydrogen production from water molecules using electrospark erosion. This marks the first time such materials have been synthesized through this method, and the university emphasizes their potential in advancing ‘green’ energy solutions. The...
READ MOREExports of copper concentrate from Russia to China surged by 36% year-on-year in the first nine months of 2024, reaching 310,000 tonnes, according to data from China’s General Customs Administration. In September alone, shipments rose one and a half times to 35,000 tonnes. While concentrate exports increased, Russian exports of finished copper products like wire,...
READ MOREFrom January to September 2024, China significantly increased its imports of copper concentrate from Russia, as reported by Vedomosti, citing data from the Main Customs Department of China. Over this period, imports of raw copper materials rose by 36% year-on-year, totaling 310,000 tons. Conversely, exports of finished copper products, including wire, profiles, sheets, tubes, and...
READ MOREAnalysts at VTB My Investments have revised their list of the top 10 shares of Russian companies, adding shares of Nornickel and excluding those of Polyus. According to the broker’s latest report, the current composition of the top list includes: Nornickel, Gazprom, Astra Group, Rusal, LUKOIL, ALROSA, Moscow Exchange, Headhunter, Yandex, and Sberbank. The decision...
READ MORERussia has proposed resource cooperation in the management of subsurface resources to African countries, Russian Natural Resources Minister Alexander Kozlov announced at the Russia-Africa Partnership Forum in Sochi. The proposal aims to strengthen collaboration in mineral exploration, leveraging Russia’s expertise and extensive mineral reserves to assist African nations in tapping into their own resources. Minister...
READ MORERusal Trading House expects to begin test trading of aluminum on the St. Petersburg International Mercantile Exchange (SPIMEX) by the end of this year, according to General Director Igor Ignashov. Speaking on October 31, Ignashov emphasized that the sale of aluminum on SPIMEX will serve as an important experiment for the market, offering insights into...
READ MORERussia is in negotiations with other BRICS nations to establish an international precious metals exchange, Russian Finance Minister Anton Siluanov announced on Thursday. The initiative aims to promote fair pricing and boost trade in the precious metals sector, providing an alternative to Western-dominated trading venues. Siluanov detailed that the proposed mechanism would include the development...
READ MOREThe price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about...
READ MOREWestern sanctions on Russian zinc miner Ozernoye have left the company struggling to replace essential equipment required to increase output, according to multiple sources familiar with the situation. As a result, predictions for global zinc supply in 2025 may be overstated, heightening concerns in a market already facing supply shortages. Ozernoye officially launched production in...
READ MORERussian mining company Seligdar has reported a 5% decrease in gold production from January to August 2024, totaling 5.94 metric tons. The decline in output was attributed to the scheduled processing of previously mined and stockpiled ore and the completion of operations at the Lunnoe deposit. Ore extraction also dropped significantly by 33%, reaching 6.2...
READ MOREVSMPO-AVISMA reported a 0.44% decrease in revenue under Russian Accounting Standards (RAS) for the period of January to September 2024, totaling 72.3 billion rubles ($769 million), compared to the same period last year. The company’s cost of sales rose by 17.5% to 48.609 billion rubles ($517 million), according to its financial statements. Key profit metrics,...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREThe board of Russian aluminum major Rusal is considering a share buyback of RUB 15 billion ($155 million), representing approximately 2.8% of its share capital. The company argues that the buyback could be beneficial for shareholders. However, coal major Sual Partners, controlled by sanctioned Russian oligarch Viktor Vekselberg, intends to block the share buyback. Sual...
READ MORERussian mining company Nordgold has announced plans to invest over 30 billion rubles (approximately $321 million) in the development of the Sardana zinc deposit, one of Russia’s largest zinc fields in terms of reserves. The Sardana deposit is located in the remote Ust-Maisky area of the Yakutia Republic, covering an area of 6.1 square kilometers....
READ MORESual Partners, controlled by Viktor Vekselberg and his partners, is seeking to prevent the proposed buyback of UC Rusal shares. According to Vedomosti, UC Rusal is pursuing the buyback to capitalize on its share of the asset in the absence of dividend payments. UC Rusal’s main shareholder, En+, founded by Oleg Deripaska, holds a 56.9%...
READ MOREA team of Russian researchers has synthesized unique ferromagnetic films made of palladium and iron using the molecular beam epitaxy (MBE) method, according to the Institute of Physics and Technology (ITF). “We have adapted molecular beam epitaxy technology to synthesize gradient magnetic thin films based on a ferromagnetic alloy of palladium and iron. The resulting...
READ MOREThe premium for aluminium shipments to Japanese buyers for the October to December period has been set at $175 per metric ton, reflecting a 1.7% increase from the previous quarter, according to four individuals directly involved in pricing talks. This rise aligns with higher premiums seen in Europe. The new figure surpasses the $172 per...
READ MORERusal’s aluminium exports fell by 4% year-on-year to 2.19 million tonnes in the first nine months of 2024, according to company data reviewed by Interfax. During the same period, the total volume of aluminium transported by Rusal, including domestic shipments, decreased by 1% to 2.69 million tonnes, based on information from Russian Railways. Notably, aluminium...
READ MORERussian aluminium giant Rusal is considering a share buyback valued at approximately 15 billion rubles ($156 million), following a review by the company’s board of directors. The board has begun a preliminary assessment of the potential buyback, noting that it could be favorable for shareholders overall. However, no final decision has been made, and the...
READ MORERusal plans to start construction of the second stage of the Boguchansk aluminium smelter in 2025, according to Renaissance Capital. This expansion will double the smelter’s production capacity to 596,000 tonnes per year, with the start-up complexes being commissioned in stages until 2030. The total investment in the project will be updated by the end...
READ MOREStarting October 8, the Moscow Exchange will begin trading new futures contracts for copper, aluminium, nickel, and zinc. These contracts will have a quarterly circulation term, aligning copper and nickel futures with the existing quarterly terms for aluminium and zinc, which previously had one-month terms. The new contracts will feature lots that are 10 times...
READ MORERusal, the world’s largest aluminum producer outside of China, anticipates that the global aluminum market could edge closer to balance by 2025. The company expects demand to rise, aided by lower borrowing costs and China’s economic stimulus measures, helping to reduce the current supply surplus. Russia’s Rusal, which accounts for 5.5% of global aluminum production,...
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