Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

EU significantly reduced copper imports from Russia

01 march 2024

The EU member states purchased 62,372 tons of copper from Russia in 2023, which is 79% lower than the previous year, Vedomosti newspaper reports.

For comparison, in 2021 and 2022, Russia supplied 296,000 tons of metal to the European Union.

According to S&P, Russian copper producers have reoriented exports to China and Turkey. To these countries, the Russian Federation supplied almost half of the supplies that were redirected from the EU, namely 111,580 tons. In 2023, China imported 370,815 tons of copper from Russia (+14% year-on-year), and Turkey purchased 171,260 tons (+61%).

In total, EU countries imported 673,100 tons of copper over the past year, reducing purchases by 20%.

European states have also reduced titanium imports from Russia. In 2023, the EU purchased 6,410.1 tons of metal from Russian manufacturers, which is 20% less than in the previous year. In monetary terms, the value of imports decreased by 12%.

Alex Shishlo for Rough&Polished