City Of London
Russia Aluminum Giant Weighs Selling Directly on London Metal Exchange
- Russian company could test sales route with small deliveries
- Move risks making LME a dumping ground for Russian metal
A foil mill operated by United Co. Rusal, in Sayanogorsk, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
United Co Rusal International PJSC is working on a plan to deliver some aluminum directly to London Metal Exchange warehouses in Asia, as the Russian company struggles to find buyers.
Rusal isn’t under Western sanctions but it’s nonetheless being hit as some big consumers in Europe and the US refuse to keep buying its metal. At the same time, domestic demand is slumping with the Russian economy in recession.