top of page
Writer's pictureAvi Shaposhnik

New Sanctions on Russia Send Aluminum and Nickel Prices Surging

Updated: Jul 16

Recent geopolitical tensions have precipitated a sharp rise in metal prices following new sanctions imposed by the UK and US. These sanctions effectively ban the trading of newly produced Russian metals — namely aluminum, nickel, and copper — on two of the world's major exchanges. This decisive action aims to constrict Russia's economic capabilities amidst broader geopolitical conflicts and has had immediate effects on global commodity markets.


Metals
Metals
  • The London Metal Exchange (LME) has reacted by disallowing Russian metal produced after April 13 to be stored in its warehouses, signaling a shift in market dynamics that could redefine pricing benchmarks and availability.

  • Aluminum experienced its highest single-day percentage increase since 1987, soaring up to 9.4% and settling at $2,586 per ton.

  • Nickel and copper also saw gains, with nickel rising by 2.7% due to its critical role in electric vehicle batteries and steel production, while copper edged up by 0.4% to nearly $9,500 a ton, a 22-month high.



Hedgify's innovative platform enables businesses to navigate and mitigate the risks associated with market fluctuations such as those currently seen in the metals market, by providing tools to lock in prices for key commodities, energy, interest rates, and currencies, thus offering a significant strategic advantage in volatile economic times.


The information provided in this market insight is for general informational purposes and should not be considered financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.

Σχόλια


bottom of page