"Global Metal Markets React to LME Ban on Russian-Origin Supplies"
The London Metal Exchange has banned deliveries of any Russian supplies produced after midnight on Friday in response to new US and UK sanctions, leading metal traders to anticipate dramatic price moves when trading reopens on Monday. While some expect prices of aluminum, copper, and nickel to rise due to the removal of a major producer from the market, others are concerned about the potential flood of old Russian metal onto the exchange. The industry is preparing for heightened volatility, with Russia accounting for a significant portion of global metal supply, and the LME's decision to allow deliveries of "old" Russian metal under certain conditions is expected to reignite the debate over banning Russian metal altogether.