Russia has introduced temporary new export taxes for steel products, nickel, aluminum and copper.

Moscow wants to protect its defence and construction industries from further growth in raw materials costs as prices for metals rise at a global level.

For now, it’s probably best to view China’s announcement as an opening shot in what may be a longer battle.

En+ Group owns 56.9% in aluminium producer Rusal.

Nornickel said on Wednesday it is buying 3.4% of its shares for $2 billion to compensate for a smaller recent dividend.

Schneider Electric will use materials, such as low-carbon aluminum and copper produced by the miner with renewable power, iron ore, and borates.

While prices of industrial metals have rocketed as the world moves away from fossil fuels, future price rises are likely to be limited to a select few energy transition ingredients.

It would auction 20,000 tonnes of copper, 30,000 tonnes of zinc and 50,000 tonnes of aluminium.