Metals Spike on LME After Russian Supply Hit by US, UK Sanctions.

Aluminum and nickel prices on the London Metal Exchange (LME) have surged following new US and UK sanctions that prohibit the delivery of Russian supplies produced after midnight on Friday. Traders believe that removing one of the largest producers from the market will drive prices higher. However, there are concerns about the potential flood of old Russian metal onto the LME. While the impact of the sanctions may not be as dramatic as previous events, Russia still plays a significant role in global metal production. The LME is considering whether to ban Russian metal altogether to protect its role as the home of global benchmark prices. [Extracted from the article]