Wednesday, October 19, 2022

Glencore delivers Russian-origin aluminium into LME

Glencore has delivered significant amounts of Russian-origin aluminium to LME registered warehouses in Gwangyang, South Korea, two sources with direct knowledge of the matter said. The aluminium delivered to Gwangyang was produced by Rusal (RUAL.MM), the world's largest aluminium producer outside China. It accounts for 6% of global supplies estimated at about 70 million tonnes this year. Rusal is facing difficulties as 2022 contracts expire and buyers shun it's product.