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Metal prices rise as LME considers banning Russian supplies

Financial Times LogoFinancial Times2 mo ago

Metal prices rise as LME considers banning Russian supplies - Financial Times

Quick Summary:

Aluminium prices rose by 8 per cent on the news, which was first reported by Bloomberg, before dipping to close 2.6 per cent higher than the market open.

However demand for base metals over the next year could drop if there is a deep European recession or a global downturn, he said.“In that world, the excess unit is most likely to be Russian supply.

The exchange is deciding whether to publish a discussion paper about how to deal with Russian material, according to its chief executive Matthew Chamberlain.


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Article Details

Author / Journalist: Leslie Hook

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 16:45:24 (2 months ago)

News Timezone: GMT -5:00

Ranking: #1076 (out of 3376 stories this day)

News Source URL: ft.com

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 623429

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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