Metal Traders Get Ready for Fireworks After LME Russia Ban
- US, UK imposed sanctions on use of Russian metal on exchanges
- Most market participants predict prices will move higher
This article is for subscribers only.
Metal traders are bracing for dramatic moves after the London Metal Exchange responded to new US and UK sanctions by banning deliveries of any Russian supplies produced after midnight on Friday.
Most of the two dozen market participants interviewed by Bloomberg expect prices of aluminum, copper and nickel to jump when LME trading reopens on Monday morning at 1 a.m. London time.