By John Helmer in Moscow

To understand how and what to buy in a Russian metals company, you need to understand a Soviet joke.

On a visit to Paris, the then Soviet ruler Nikita Khrushchev arranged to visit a brothel. On arriving, he asked the madam, “How much for a room?” “Depends on the room,” she replied. “There are 500-franc rooms, 100-franc rooms, 50-france room, and 1-franc rooms.” “Give me a 1-franc room,” Khrushchev said.

He was then shown to a room, where he sat for ten minutes. Noone came. For twenty minutes, still noone. At the half-hour mark, nothing had happened, and Khrushchev was furious. He picked up the telephone, and roared. The madam appeared swiftly. “This is an outrage,” shouted the First Secretary of the Communist Party. “I’ve been waiting here for half an hour, and noone has shown up!”