Global metal demand flat amid Middle East conflict — Norilsk Nickel

MOSCOW, April 17. /TASS/. Global demand for non-ferrous metals remains the same as before the conflict in the Middle East, Vice President, Head of the Unit of Sales and Commerce at Norilsk Nickel Anton Berlin said, adding that current non-ferrous metal prices are closer to the fundamentally justified price curve. "According to our estimates, demand in the non-ferrous metals market is currently roughly the same as before the escalation in the Middle East. Prices for a number of metals have been rising since December. Current prices are closer to the fundamentally justified price curve," he told reporters. China accounts for about 50% of Norilsk Nickel’s sales geography, with Russia accounting for another 15% and the American market accounting for 5%, Berlin said. "Currently, around 50% of Norilsk Nickel’s sales go to China, and about 15% [go] to Russia. The US market accounts for about 5%. The rest is in Europe, North Africa, the Middle East, and Asia, excluding China," he said.