THE ESTIMATE OF DEMAND ELASTIC FOR THE PRODUCTS OF COPPER INDUSTRY ON INTERNATIONAL MARKET
Author(s): Zubec Anton Zhelkovich, Polovinkina Elena Semyonovna
Rubric: Domestic and foreign trade
Release: 2019-2 (29)
Keywords: Demand elasticity, copper, copper market, price, export, import
Annotation: Background. Today copper industry occupies one of the key positions in the world industry. Meanwhile, in recent years, the world market has problems of price instability and lower demand for copper, which led to the formation of its surplus. Now foreign companies are trying to neutralize the negative situation, reduce production volumes, but the Russian largest representatives of the copper industry, are planning to increase it in anticipation of a gradual increase in prices. The article provides an overview of current trends in the copper industry, show the keys companies-representatives in Russia and in worldwide. The purpose of this study is to assess the elasticity of demand for the products of the copper industry in Russia in the international market, determine whether there is a potential for sales growth in Russian companies overseas. Materials and methods. The realization of the objectives achieved by comparing the data of official state statistics and calculations of the expert community. The study used the methods of retrospective analysis, graphics, and induction. Results. The authors assessed the elasticity of demand for the products of the copper industry in Russia at the international level. In 2014-2016, the demand for the price is elastic, but in the context of consumer countriesfar abroad and the CIS in 2016, this condition is’ not met. According to the authors, it is advisable for Russian exporters of copper products to strengthen their positions in the world market to focus on foreign countries and above all, in China.
Bibliography: Zubec AN.ZH., Polovinkina EL.SE. THE ESTIMATE OF DEMAND ELASTIC FOR THE PRODUCTS OF COPPER INDUSTRY ON INTERNATIONAL MARKET // Economics and Management. – 2019. – № 2 (29). – С. 60-70. doi: 10.21777/2587-554X-2019-2-60-70