Aluminum Falls, Nickel Eases After Russian Metals Escape Curbs
- US measures didn’t feature major sanctions on Russian supplies
- Nickel has risen over 6% this week from near three-year lows
A worker checks inventory of sheet aluminum rolls in a storage area in Sevojno, Serbia.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Aluminum slid and nickel pared earlier gains after a package of US sanctions omitted any major curbs on Russian industrial metals.
The action announced on Friday included measures against more than 500 people and entities linked to Russia’s war machine, but left the country’s base metals industries unscathed. The two metals had been buoyed this week by expectations that the package might put pressure on supplies.