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The cost of non-ferrous metals decreased

7 July 2014

Impairment of non-ferrous metals are not the best way affects the foreign trade turnover of producers, and East Kazakhstan enterprises, most of the products that are exported, did not pass universal participation. Analysts data for the period January-June foreign trade figures decreased by 13% compared to last year's data. To provide a complete picture of Kazakhstan President regarding the situation and the steps taken to resolve it held meetings with the heads of the largest enterprises.

Eduard Ogai, who is the chairman of the Corporation «Kazakhmys», provided information about the construction of the most significant Aktogay complex located at Ayagoz. Preparations have been completed stage, the construction of the copper mining and processing complex will start in 2015. According to information provided by the President of JSC «Kazzinc» Nick Popovic, according to preliminary estimates another underground mine will be launched in 2017. Yuri Shakhvorostov, Director-General of the Ulba Metallurgical Plant, explained the impact on reducing the cost of uranium is 2.5 times Japan's accident at the NPP «Fukushima» and provided evidence of a decline in demand for high yield products. He assured the President that the difficult situation will not have a negative impact on the composition of the company's employees — stable work, as well as earnings, the highest to date in Ust-Kamenogorsk. In addition, Yu Shakhvorostov informed of the steps taken for the development of beryllium and tantalum production.

Meanwhile, demand for copper does not stop and continues to grow — according to analysts «BNP Paribas», in the current year it will increase by 5.5−6% next year the figure will increase by another 4−4.5%. As for the proposal, its surplus will be about 450 thousand tons, with the result that the cost of copper next year hardly make it to the level of USD 7,000 / ton and it is probable that it will fall to 6000 USD / ton. Analysts «Capital Economics» suggest fall in the value of copper in the 3 rd quarter of this year due to the difficult situation that has arisen in the Qingdao port, China — in spite of the decrease in inventories of red metal on the London Stock Exchange, the price per tonne will be 5800 USD. In addition, according to experts, in March 2014, lack of supply was 83 thousand tons.

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