MOSCOW, Jul 29 (PRIME) — Russian metals giant Norilsk Nickel expects prices on its core metals to increase by the end of this year, RIA Novosti reported Friday citing Viktor Sprogis, the companys deputy CEO.
As of Friday, nickel was traded at U.S. $24,650 per tonne, copper traded at $9,810 per tonne, palladium traded at $827 per ounce, while platinum traded at $1,782 per ounce on the London Metals Exchange (LME).
In JanuaryJune, Norilsk Nickel sold its nickel for $25,923 per tonne, which was $356 higher than LME price. Sprogis added that there is a consistant increase in investor interest for metals.
Sprogis also said that he expected the cost of platinum group metals to increase to over $2,000 per ounce in 1015 years from the current $600$1,400 per ounce.
He added that the price range between platinum and palladium would likely narrow as production costs remain the same.
Norilsk Nickel is one of the worlds largest metals producers.
THE COMMENT FINE PRINT - IN DEFENSE AGAINST MENTAL MIDGETS:Why do you not respond to my comment? Why is my comment gone? Why are you mean? Why do I hate you for erasing my comment? Why do you hate me for my comment? Why is cussing not allowed (Sometimes you do it - sorta!), when it helps me express my feelings? Why are you a #$&%@#? Why is it wrong to wish you dead? Why do you love Russia? Why are you stupid? Why are you unpatriotic? Why is, why is, why is and why is? My GOD man, Why are you worse than a communist?
The above manifestations of a horde of mental midgets is why I only respond to comments that have signed up to be a user of the blog! (Top right of website is link!) Anyone can comment and anyone can be erased after they comment, but only someone who takes the time to sign up gets a second look from me at the comment. Sorry: I have to draw the line somewhere and when you get thousands of spam, hate and death threat comments a day, then all you do is look at spam, hate and death threats, then I never get anything else done. If you comment after signing in, then I will get a message that someone has tried to post a real comment?
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Another day in the life of Windows to Russia...