Insight
All change, no change as LME bans new Russian aluminium
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The LME’s ban on accepting Russian primary aluminium produced after 13 April has seen the exchange price jump by over US$200/t. The new rules, designed to minimise market disruption by creating a two-tiered system for dealing with Russian aluminium produced on or before 13 April, may end up having the opposite effect. We would not be surprised to see further adjustments to the regulations. Indeed, traders have been busy cancelling warrants in a play to generate profit from rent-share agreements with warehouses. We may end up with Russian metal lingering in the LME system for a long time.
Table of contents
- Executive summary
- Disentangling Russian metal from the LME: easier said than done
- What happens to Russian aluminium produced after 13 April?
- All eyes on the EU
Tables and charts
This report includes the following images and tables:
- Chinese imports of primary aluminium
- Russian exports of primary aluminium to the US and EU 27
What's included
This report contains:
