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Sanctions Fallout Upends Metals as Aluminum, Nickel Burst Higher

  • U.S. sanctions are upending the global metals supply chain
  • Nickel surged again on Thursday, reaching a three-year high
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Lori Heinel of State Street Global Advisors and Bloomberg Intelligence’s Andrew Cosgrove discuss rising metal prices.(Source: Bloomberg)
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The turmoil unleashed by U.S. sanctions against United Co. Rusal kept reverberating through metals markets, sending aluminum and nickel to multi-year highs.

Commodities markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, the largest aluminum supplier outside China, setting off a rush for alternative supplies and stirring concern that further U.S. action could affect other markets like nickel.