Aluminum, Nickel Jumped as US Signals Major Sanctions on Russia
- US to announce ‘major sanctions’ Friday over Navalny death
- Penalties to come in package after two years of Ukraine war
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Aluminum and nickel jumped after US President Joe Biden said the US plans to unveil a “major” sanctions package against Russia on Friday following the death of opposition leader Alexey Navalny.
Aluminum prices on the London Metal Exchange rose as much as 1.8% while nickel gained up to 1.3% after Biden’s comments Tuesday to reporters at the White House.