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According to foreign media reports, London Metal Exchange (LME) is planning an online anonymous discussion on whether and under what circumstances will the newly entered metals from Russia be restricted. It also emphasized that LME is currently planning to initiate discussions, , but this does not mean that any decision has been made. "LME will take the necessary actions to ensure market stability to deal with sanctions," and added that while prioritizing "orderly markets", we will judge the situation and move to the next step. After the news of
, the prices of LME aluminum, nickel, zinc and other metals rose in response. As of 20:00 Beijing time, Lunniel Electric was 3 at US$22,850/ton, up 3.23% from the previous trading day.
LME has previously stated that it does not intend to take any action outside the scope of sanctions. So far, large Russian metal manufacturers, including Russian nickel supplier Norilsk Nickel Industry , have not been subject to any restrictions from the exchange.
As the fourth quarter approaches, many companies at home and abroad have begun to negotiate orders for next year, but several large European metal consumer companies have shown a cautious attitude towards Russian nickel, aluminum and other metals.
Russia Norilsk Nickel Industry is the world's largest nickel smelting enterprise, including two branches of Russia and Finland . It has a total annual production capacity of 250,000 tons of nickel metal, and a production of 100,000 tons of nickel metal in the first half of 2022, accounting for 26.1% of the global pure nickel production and about 8% of the native nickel production.
As of September 29, LME nickel stocks were 51,816 tons, of which 3,924 tons were nickel plates , most of which were Russian nickel, and Russian nickel is currently one of the main delivery products of LME; 8,031 tons of nickel plates in stocks in China's domestic + bonded zones.
In 2022, Chinese companies ordered about 10,000 tons of Russian nickel in a long-term order, and a total of 24,400 tons of pure nickel imported from Russia and Finland from January to August.
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