Global Metals Market Reacts to US and UK Sanctions on Russian Metal Trading
TL;DR Summary
Aluminum and nickel prices soared on the London Metal Exchange following the imposition of US and UK sanctions prohibiting the delivery of Russian metal produced after midnight on Friday. The sanctions, designed to limit President Putin's military funding, have introduced significant uncertainties into the metals market, which has already been affected by Russia's invasion of Ukraine.
- Metals Spike on LME After Russian Metal Hit By US, UK Sanctions Bloomberg
- LME bans Russian-origin metal after UK, US impose new sanctions Reuters
- New Sanctions on Russia to Drive Even More Metals Sales to China Bloomberg
- US and UK launch crackdown on Russian metals trade Financial Times
- U.S., U.K. to Ban Exchanges From Dealing in Russian Metals The Wall Street Journal
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