In early 2011 Russia may set up an exchange dedicated to metals in Russia's Chelyabinsk region. The new Ural Metal Exchange is expected to bring more transparency to price-forming as regards Russian metals, and have a leveling effect on internal and export prices for domestic metal products.
Accordingly, at first Ural Metal Exchange will carry out transactions for ferrous metals, with nonferrous metals to be added later.
"The metal exchange in the Urals can help metallurgical and other companies to manage market risks," Leonid Khazanov, head of Metal Supply and Sale Magazine's Non-Ferrous Metals Department, said.