Media reported that London Metal Exchange (LME) will consult on the introduction of a ban on trading in Russian metals. LME will begin discussions that will be the first step towards a potential ban on new supplies of Russian metals. Russia is a significant producer of nickel, aluminum and copper and a ban could have significant implications for the markets. Recall that it was fear of sanctions disrupting Russian nickel supplies that triggered a massive short squeeze on nickel back in March.
Market reaction could be spotted mostly on NICKEL and ALUMINUM with both metals jumping around 4% on the news. However, part of the upward move was erased already.
Nickel and aluminium jump on news of potential LME ban on Russian metals. Source: xStation5
Three Markets to Watch Next Week: EURUSD, Gold, S&P 500 (26.06.2026)
Market Wrap: Declines spread across the European market
Morning Wrap: Asia extends Wall Street selloff on expensive hardware (26.06.2026)
Daily summary: Semiconductors are swallowing Wall Street