Norsk Hydro And Rusal In War Of Words Over Russian Aluminium In LME Warehouses
Norsk Hydro ASA appealed to the London Metal Exchange last week to reverse its decision not to ban Russian-source aluminium,...
Norsk Hydro ASA appealed to the London Metal Exchange last week to reverse its decision not to ban Russian-source aluminium,...
Trade group European Aluminium is mulling a push for European Union sanctions on imported Russian aluminium without targeting UC Rusal,...
Stocks of Indian and Chinese aluminium in London Metal Exchange warehouses plummeted in June due to a rush by traders...
Russian oligarch and aluminium titan Oleg Deripaska went on record earlier this week criticizing his country’s outdated financial system, noting that Russia’s financial sector is going backwards while the rest of the world leaves them behind. Although criticism of Moscow by Russians can be dangerous, it appears that the founder and stakeholder in UC Rusal […]
In a move that stunned the aluminium world, Glencore plc announced that it is not renewing its US$16 billion contract with Russian aluminium titan UC Rusal. In an interview with Bloomberg, Glencore’s CEO Gary Nagle said it will complete the contract it has with Rusal, but, under its new policy of shunning business from Russia, […]
Earlier this week the London Metal Exchange (LME) made the decision to ban Russian aluminium from its warehouses in the United States due to the recently enacted import tariffs. Late last week the Biden Administration announced new import tariffs on Russian aluminium of 200 percent. These tariffs will go into effect on March 10. In […]
The London Metal Exchange this week confirmed that its holdings of Russian aluminium rose as expected in January to a total of 42 percent of the aluminium stock in its warehouses. According to a report just released by the LME, of the 152,841 metric tons of primary aluminium in its warehouses, 93,750 metric tons had […]
Pittsburgh aluminium value-added firm Arconic announced the completion of the sale of the entirety of its Russian operations to Promishlennie Investitsii LLC for US$230 million. Arconic notes that the closing occurred upon the receipt of all necessary approvals, at which point Promishlennie Investitsii tendered the US$230 million cash payment. The cash held in Russia was […]
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...