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Geopolitical shifts increase demand for Trans-Baikal’s metals — expert

Deputy Director of the Institute of Economic Forecasting of the Russian Academy of Sciences Dmitry Kuvalin emphasized that the physical volumes of purchases will continue to grow in the future, both within Russia and abroad

VLADIVOSTOK, April 24. /TASS/. The rise in demand for strategic raw materials from the Trans-Baikal Region is indirectly reflected in increasing metal prices driven by geopolitical shifts, Deputy Director of the Institute of Economic Forecasting of the Russian Academy of Sciences (IEF RAS) Dmitry Kuvalin said at a panel session "Trans-Baikal Territory: strategic infrastructure hub of East and West" at the Trans-Baikal Foreign Economic Forum "New Horizons" held in Chita.

"Geopolitical shifts are reshaping metal prices. This applies to metals, a substantial portion of which is mined in the Trans-Baikal Region. <…> This indirectly confirms that demand for strategic raw materials is increasing. Demand manifests itself in rising prices. In the medium and long term, an increase in the physical volume of demand for metals should also be expected," Kuvalin said.

He noted that copper has experienced the smallest increase in exchange prices - they have risen by 30% over the last year. Gold and silver prices have surged more than twofold. Bismuth and tungsten have also increased significantly in price. Kuvalin emphasized that the physical volumes of purchases will continue to grow in the future, both within Russia and abroad.

The Trans-Baikal Foreign Economic Forum "New Horizons - 2026" is being held on April 23-24 in Chita. For the fourth time, the event has served as an off-site platform of the Eastern Economic Forum, bringing together leading experts and representatives from Russia, China, and Mongolia. The first day of the forum focused on tourism development, while the second will concentrate on strengthening trade and industrial ties between the three countries.

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