LME has no plans to ban Russian metal

Delicate situation: Traders work on the floor of the LME in London. According to sources, the exchange could vote to ban new deliveries of Russian copper into the system. — Reuters

LONDON: The London Metal Exchange has no current plans to ban from its system metal from Russian producers, such as nickel and copper from Norilsk Nickel or aluminium from Rusal, it said, despite calls from some members to do so.

Western countries have sanctioned Russian banks and wealthy individuals connected to President Vladimir Putin since Russia’s invasion of Ukraine last month – which the Kremlin terms a “special operation” – but so far there are no restrictions on buying Russian metal.