Russia supplies about 10% of the world's nickel, 6% of its aluminum and around 3.5% of its copper. A ban on Russian metal could lead to shortages and further price surges at a time of rising inflation around the world.
Prices of materials like crude, gas, wheat and metals have become alarmingly erratic as a gulf emerges between buyers and sellers who are facing big financing strains.
Pent-up demand, supply shocks, low stocks pushed aluminum, copper and coal prices to all-time highs, but new report suggests supercycle talk is premature.