Global aluminum prices soared after news the Biden administration is considering an effective ban on Russian imports of the metal used in transport and construction.
The White House is eyeing three options: an outright ban, increasing tariffs to levels so punitive they would impose an effective ban, or sanctioning Rusal.
Significant volumes of unwanted Russian-origin copper have been deposited in London Metal Exchange approved warehouses in Germany, the Netherlands and Taiwan since the middle of September.