Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russia May Reduce Palladium Export in 10 Times
17.10.2011 10:28
Russia May Reduce Palladium Export in 10 Times

Russia will have to reduce palladium supplies abroad in 10 times for the next two years. Then the export of the metal could stop at all, said Ministry of Finance to the news agency Interfax.

As the source reports, there are ‘very little’ liquid palladium in the country. In 2012-2013 Russia may export only 4-4,5 tons of palladium annually. Before that time, Russia has exported about 50 tons a year.

Last year Norilskiy Nikel, one of the main world palladium producer, claimed about possible deficit. This spring the Deputy General Director Viktor Spogis confirmed the information.

Palladium is one of the rarest metals in the world. It is used in jewellery, medicine, industries. The annual volume of palladium production in the world is about 200 tons. For comparison, gold production is about 2.5 thousand tons a year.

In February this year, the metal cost raised up to $ 855 for ounce. For the last six months price has been falling. On October 13 at New York Mercantile Exchange one ounce of palladium was traded for $ 594.  

Author: Irina Fomina

Tags: Russian business export    

Next Previous

You might also find interesting:

Yandex Introduced a New Generation of Unmanned Vehicles
Medical Insurance Startup BestDoctor Raised $ 4.5 Million from International Funds
60% of Russian Entrepreneurs can no Longer Cope with Rental Payments
Internet Trade in Moscow Grew 1.5 Times during the Crisis
Every Fifth Russian Travel Agency May not Survive the Coronavirus Pandemic

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Russian Orthodox Church  cultural cooperation  Robots  Russian Cinema  Regional Cuisines  Festivals in Moscow  Yauza  Russian tourism  Mercedes-Benz Fashion Week Russia  Russian places of interest  Russian regions  Russian police  travel to Russia  Russian Alternative Rock  Krasnoyarsk International Music Festival of the Pacific Rim  Russian psychology  tourism  Orsk  Historical Exhibitions  Alexander Deyneka  Olympic Bear  gambling zones  Vladivostok  Volgograd  Aeroflot  bus crash  Architecture of Moscow  Moscow  Zakharov  Russian children  Alexei Navalny  Architecture  animal-assisted therapy   St. Petersburg  Russian oil companies  Leo Tolstoy  MotorArmy Festival  EU  Modern Art  Dzhokhar Tsarnaev  Russian business  Republic of Tatarstan  Ossetia  Tula  Strogino  Exhibitions in Moscow  Russian laws  Theatre Festivals  Online Events during Quarantine  Marius Bauer 

Travel Blogs
Top Traveling Sites