Posted 4/14/2024, 6:12:19 PM
Traders Brace for Rocky Return as LME Bans New Russian Metal
- Metal traders bracing for big price moves when LME trading reopens after ban on new Russian metal deliveries.
- Opinions divided on impact - some expect higher prices as Russian supply removed, others expect Russian metal dumping.
- New rules ban deliveries of Russian metal produced after April 13, allow "old" Russian metal.
- Traders expecting Russian metal held outside LME to flood in, possibly pushing spot prices down.
- Reaction likely most extreme in nickel market which relies heavily on Russia; copper and aluminum seen as more resilient.
