Metal exchange can be launched in Ural

The meeting between governmental officials and businessmen dedicated to establishing of a metal exchange in Ural has taken place in Chelyabinsk this week.

According to Nikolay Vinnichenko, Representative of the President of Russia in the Ural Federal District establishing of the Ural, metal exchange will bring in more transparacy to price-forming as regards to Russian metals and level the internal and export prices for domistic metal products.

The new exchange will be established in Chelyabinsk and can be launched already next year. At first it will carry out transactions with ferrous metals, later nonferrous metals will be added.

«The metal exchange in Ural can help metallurgical and other companies to manage the market risks», Leonid Khazanov, Head of Non-Ferrous Metals Depatrment, Metal Supply and Sale Magazine, said.