BREAKING: Aluminum and nickel prices jump as LME consider ban on Russian metals

10:04 AM 29 September 2022

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.

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

Nickel and aluminium jump on news of potential LME ban on Russian metals. Source: xStation5

Share:
Back
Xtb logo

Join over 935 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.

Losses can exceed deposits