Russia Aluminum Giant Weighs Selling Directly on London Metal Exchange [Business News Network (BNN) (Canada)]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Business News Network
Rusal isn't under Western sanctions but it's nonetheless being hit as some big consumers in Europe and the US refuse to keep buying its metal. At the same time, domestic demand is slumping with the Russian economy in recession. What Rusal will do with its excess production is one of the hottest topics of discussion among metal traders, with some fearing that large deliveries to the exchange could cause LME prices to diverge from the global aluminum market. Rusal has discussed shipping some aluminum from Russia's far eastern port of Vladivostok to LME warehouses in Asia, according to people familiar with the matter, who asked not to be named as the matter is private. The company is currently only considering delivering a small portion of its production as a pilot test, said some of the people, as it is mindful that large inflows into LME inventories could push down prices. Rusal is the largest producer outside China of the lightweight metal used in everything from fizzy drinks c
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