State financing of companiesmetallurgical industry in conditions of volatility of world prices for non-ferrous metals

Abstract

Currently, in the conditions of continuing sanctions pressure, as well as the consequences of the SARS-CoV-2019 pandemic, the metallurgical industry companies are facing acute issues of forming an effective structure of monetary capital and, in this regard, financial stability, since the provision of fixed and working capital that contribute to generating profits and increasing the value of the company as a whole will directly depend on the balance and cost of funding sources. The structure and cost of sources of financing of the monetary capital of companies in the non-ferrous metallurgy industry are directly influenced by the conjunctural factors of the industry, which determine the value of non-ferrous metals on the London Metal Exchange (LME) and on the Russian market. Due to the cyclical nature of economic development and the associated manifestations of crisis periods, there is a negative trend in terms of providing monetary capital with its own sources of financing against the background of the growth of borrowed capital and an unsatisfactory level of financial stability. In this regard, it seems appropriate to turn to the analysis of measures of state support for strategically important companies in the non-ferrous metallurgy industry in order to maintain domestic industry and maintain competitiveness in the Russian and world markets of non-ferrous metals. At the same time, public financing will contribute to leveling the manifestation of sectoral factors, the formation of an effective capital structure and the achievement of optimal financial stability.