The London Metal Exchange has banned deliveries of aluminum and other metals from its warehouses in response to the Russian invasion of Ukraine earlier this year, although there are currently no deposits of those Russian metals in its warehouses.
In this way, the platform wants to prevent its members from incurring significant additional costs for the purchase of metals of Russian origin. One of the additional tariffs referred to by the LME is the additional 35 percent tariff on copper, lead, primary aluminum and aluminum alloys two weeks ago.
Currently, Rusal aluminum and Norilsk nickel can only enter LME warehouses if the current owner purchased those stores before March 25. However, Rusal does not send its metals to the LME.
The LME currently has two warehouses in Great Britain. Neither of the two warehouses has a large amount of metals in storage and specifically does not store any of the four sanctioned metals.
ALUMINUM ASSOCIATIONS ISSUE STATEMENT CONDEMNING THE INVASION OF UKRAINE
RUSSIAN RUSAL’S REVENUES INCREASED 40% LAST YEAR
OLEG DERIPASKA, PRESIDENT OF RUSSIA, SANCTIONED BY AUSTRALIA AND THE U.K.
NESTLÉ OPENS ITS FACTORIES AND WAREHOUSES IN CENTRAL AND WESTERN UKRAINE TO SECURE SUPPLIES
HYDRO CANCELS CONTRACTS WITH RUSSIAN COUNTERPARTS
RUSAL INTRODUCES A NEW ALUMINUM ALLOY FOR ANODIZING
RUSAL REPAYS 61.5 BILLION RUBLES LOAN FROM SBERBANK
LONDON METAL EXCHANGE RECOGNIZES ITA TIN CODE STANDARD
