Page 177 - RusRPTApr23

9.1.11 Metallurgy & mining sector news
China’s imports of Russian uranium will fuel a new reactor, creating weapons-grade plutonium as a byproduct, according to a Bloomberg article published on February 28.
A rebound in Chinese demand may cause copper prices to reach a new record high this year, according to the world's largest private metals trader the Financial Times reported on March 24. Due to the rapid depletion of global inventories of the metal, which is utilized in various applications such as power cables, electric cars, and buildings, there is little room for buffer if the demand in China continues to rise. Currently, the benchmark three-month copper contract is trading at $9,000 a tonne, having increased by 30% since its sharp decline following Russia's invasion of Ukraine, which caused concerns among investors about the impact of soaring energy prices on the demand for metals. Kostas Bintas, co-head of metals and minerals at Trafigura, the Singapore-based trading house, anticipates that copper prices will surpass the previous peak of $10,845 a tonne achieved in March 2022 and could even reach as high as $12,000 a tonne.
The Ministry of Energy predicts that the production level of coal of 2022 will be maintained in 2023, which restored the high pre-pandemic figures of 2019. According to the ministry, Russia’s coal exports in 2022 fell by 1% to 221.2mn metric tonnes. Oil exports in 2022 increased by 7.6% to 242.2mn metric tonnes. Oil production by Russia in 2022 increased by 2% to 535.1mn metric tonnes, coal - by 0.3% to 443.6mn metric tonnes. Russia in 2022 reduced gas exports by 30.7% to 170.6bn cubic metres. Gas production in Russia in 2022 decreased by 11.7% to 673.8bn cubic metres.
9.1.12 Transport sector news
Transport Minister Vitaly Savelyev has said that the financial support of Russia's transport sector in 2022 amid external sanctions pressure amounted to RUB527.3bn ($6.8bn). "A total of RUB527.3bn were allocated for support of the transport sector in 2022, including through main events amid external sanctions pressure," he said at the final collegium of the ministry on Friday. Financing amounted to RUB2.059 trillion ($26.6bn) last year, the minister added. Russian Prime Minister Mikhail Mishustin said last summer that the authorities managed to mitigate the negative influence of external restrictions on the country's transport sector.
9.1.13 Other sector news
Russia has become one of the world’s top four producers of composite
177 RUSSIA Country Report Russia April 2023 www.intellinews.com