The location of Russia and the country's good infrastructure links, allows CopperTradeRus to serve several of the largest global markets and to be flexible in its response to customer demand. Material is sent by rail to China and via ports in the Black Sea and Baltic Sea to Europe and the Middle East.
Around 80-90% of our copper is sold under annual supply contracts with a negotiated volume and price premium to the market. All contracts for material in 2010 have been completed. The remaining material to be sold on spot will go to existing customers. In 2010 around 50% of copper cathode was sold to China, around 40% to Europe and 10% to the Russia and CIS.