Russia’s Mining Giants Rush to Sell Metal After LME Green Light
- Annual contracts had been on ice as LME discussed Russian ban
- Some buyers still ‘self sanction’ by shunning Russian metals
This article is for subscribers only.
The London Metal Exchange’s decision not to ban Russian metal from its warehouses has triggered a rush to conclude contracts with the country’s two big producers.
The LME’s discussion about whether to ban Russian metal had prompted some buyers to delay signing annual supply deals with MMC Norilsk Nickel PJSC and United Co. Rusal International PJSC. Now contracts with both companies are being finalized.