LME three-month nickel tumbled as much as 14% to $27,020 a tonne just after Tuesday's market open.

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.

Critical for Rusal and the aluminum market alike is whether other countries follow suit, writes Andy Home.

Rising commodities prices are helping underpin bullion's appeal as an inflation hedge.

Australia supplies almost 20% of Russia’s alumina.

Investors are furious with the LME for allowing prices to soar 250% in less than two days.

The decision aims to secure supply amid record-high energy prices.

Nyrstar's Auby zinc operations were placed on care and maintenance in January in response to high power prices.