Equities

Reuters provides comprehensive coverage on Rusal, U.S. sanctions

Reuters provides comprehensive coverage on Rusal, U.S. sanctions

In the wake of U.S.-imposed sanctions against Russian entities and individuals, Reuters were first to report that the London Metal Exchange would take steps to prevent Rusal’s aluminium from entering LME warehouses. Aluminium prices jumped after the Reuters report, with the benchmark LME contract trading up more than 4 percent in electronic trade. Reuters also reported exclusively that the Russian aluminium giant had activated a contingency plan, asking customers to pay in euros instead of dollars to try to skirt round sanctions, and showed exclusively how dominant aluminium producer China may help fill a gap in global supply.