Rus News Journal

The prices of the world markets

Destiny of the Russian aluminium in the world market in doubt

falling of the price of aluminium with three-monthly term of delivery on London Metal Exchange to the lowest for 14 months of level has appeared the Most appreciable event in the market of nonferrous metals last week. Last months position in the market was stabilised, and the prices fluctuated from $1170 to $1200 for ton, however on Tuesday at the exchange auctions in London the fall record - $1142 (in 1988 the aluminium ton cost $3250) has been established. By the settled tradition a consecutive number political and the business factors, originating in Russia became the reason of the situation which have developed at a stock exchange. In the end of March statistical service London Metal Exchange has informed on increase of stocks of aluminium in warehouses in Rotterdam to 1 002 250 t, and, according to the European observers, a prevailing part of this metal - the Russian origin. The message on increase in stocks has inclined EU Commission, from the end of January studying problem of import of the Russian aluminium to the Western Europe, to the decision to make official investigation of a current situation. Though representatives of the Commission assert that investigation will not so necessarily end with an establishment of quotas, experts notice that chances of it have increased, as the Commissions of EU nothing prevented to refuse investigation in general. The moment of decision-making on investigation carrying out has coincided on a visit EU delegations to Moscow (see from March, 30th), and beginning coincidence affairs of the Russian aluminium and the visit which has ended with decision-making on removal on consideration of Ministerial council of EU of the offer of Moscow about granting of Russia of tariff preferences in trade, it is not too favorable for the European manufacturers of aluminium. The desire of the western leaders support the Russian president can to lead to that the requirement about imposing of quotas will be rejected. Therefore it is rather probable that drop in prices on aluminium in London was sprovotsirovanno those from the European manufacturers who is interested in imposing of quotas as at the moment any panic in the market can appear additional a black sphere at the decision of destiny of the Russian aluminium.