Russia's Rusal plans to sell directly to LME warehouses
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Update time : 2022-09-21 21:43:01
Due to difficulties to find buyers, Russian aluminum giant Rusal planned to sell directly to London Metal Exchange warehouses. However, there are fears regarding the large deliveries to the exchange which may cause LME prices to diverge from the global aluminum market.
Some big consumers in Europe and the US refuse to keep buying from Russia, so Russia's domestic demand is struggling with the Russian economy in recession.
Now Rusal is only considering delivering a small portion of its production as a trial test because big inflows into LME inventories may push down prices. Rusal is working on shipping some aluminum from Russia’s far eastern port of Vladivostok to LME warehouses in Asia.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
