Expert: China to demand discount on Russia’s cast iron

MOSCOW, Jun 23 (PRIME) – China is expanding imports of cast iron and will demand a discount from Russian suppliers like it was with oil, head of AMarket’s research department Artyom Deyev told PRIME on Thursday.

“It is no secret that China and India take advantage of Europe’s intention to reject Russian oil over time. This is why companies from these countries sign deals with Russia with a big discount. The same situation happens with cast iron,” Deyev said.

Imports of cast iron to China increased by 64.4% to 80,320 tonnes in May compared to April.

Russia can not fully replace the European market by China, Deyev said.

“But there are enough countries in Asia and South America with which Russia can increase trade turnover. It can be India, Malaysia, Thailand and Brazil,” he said.

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