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| Commodity News |
| HeadLine : |
LME aluminium set for 6th weekly gain amid sanctions on Russia |
| Date : |
Apr 22 2024 |
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Most nonferrous metals gained on Friday, with London aluminium set for a sixth straight weekly gain on supply concerns amid sanctions on Russian metals.Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.4% to $9,768.50 per metric ton by 0809 GMT, having hit a two-year high earlier in the session at $9,843.The LME on Saturday banned from its system Russian metal produced on or after April 13 to comply with new U.S. and UK sanctions imposed for Russia’s invasion of Ukraine.Russia is one of the world’s biggest aluminium suppliers and a major nickel producer.
Source: Reuters
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