LME metal prices boosted by LME's possible ban on Russia's metals and weakening US dollar
Time:Mon, 03 Oct 2022 10:45:42 +0800
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At the end of September, the London Metal Exchange (LME) is considering banning Russian metals from its warehouses. The news made a record high rising percentage of 8.5% of aluminum as the dollar weakened.
Russia is a major producer of aluminum, nickel, and copper. It supplies about 10% nickel, 3.5% copper, and 6% aluminum worldwide.
Analysts generally believed that the LME ban on Russian metals could have a significant impact on the global metal market.
