The President of the Ukrainian analytical center Alexander Okhrimenko says the fall at the Chinese stock exchange will affect Ukrainian metal export revenues.
“The Chinese economy is vast, and it should be taken into account, thus the fall of its stock indexes affects world market prices. If we take metal prices, say steel, its prices went below $100 per ton. While recently it was about $400. So because the Chinese economy is falling, there would be no high prices for metal”, stressed Okhrimenko.
According to the expert, metal takes up 20% of Ukrainian exports, so the fall of the world metal prices is unfavorable for Ukraine.
“So it’s important that the economy of China continues to grow, as the metal prices would grow as well. Metal prices have fallen, export revenues have fallen, and this affects the national currency rate”, Alexander Okhrimenko added. (Ukrainian metal)