The metals world is beginning its annual ritual of hashing out contracts for the upcoming year with one key question in many traders’ minds: What’s going to happen to Russian supplies? russia ukraine
The metals world is beginning its annual ritual of hashing out contracts for the upcoming year with one key question in many traders’ minds: What’s going to happen to Russian supplies?
“We categorically will not be buying from Russia for 2023,” said Paul Warton, executive vice president for Norsk Hydro’s extruded aluminum products business. “I don’t know where that material will flow to now — maybe into Asia, China, Turkey, and other areas that haven’t taken as tough a stance on Russian material.”
Neither Rusal nor nickel and palladium giant MMC Norilsk Nickel PJSC have been sanctioned by the U.S. or Europe. Spokespeople for Rusal and Nornickel didn’t immediately respond to requests for comment. Glencore declined to comment.
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