With Severed Ties to Russia, Newer Markets for Industrial Metals Rise

Published by
Grit Daily Newswire

With the Russian invasion of Ukraine, the race to remove commercial ties and impose sanctions with Russia, one of the world’s largest exporters of raw materials, continues. Russia’s industrial metals and mining industry represents around 3%-5% of Russia’s 2015 GDP and accounted for 16% of total Russian exports in 2015 (USD $53 billion). As S&P Global reports, as stricter sanctions with Russian trade continue, global markets could be squeezed, with mining companies in geopolitically friendly countries getting a bump in price as industrial metal prices affected by the Ukrainian conflict, such as…

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