UPDATE 1-LME says looking at expanding eligibility for Rusal metal [Reuters (UK)]
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Source: Reuters
LME says looking at expanding eligibility for Rusal metal | Reuters 3 Min Read LONDON (Reuters) - The London Metal Exchange (LME) is working to see if it can expand access to Rusal’s aluminum, which is under suspension due to U.S. sanctions, but the exchange needs to be cautious, Chief Executive Matthew Chamberlain said on Tuesday. “We are working very closely with all the parties involved to see if we can expand that eligibility, but I think the market does agree that we should put caution first,” Chamberlain told the International Derivatives Expo in London. The LME did not want their members to inadvertently end up with metal that would create problems with U.S. authorities, he added during a panel discussion at the conference. The exchange, the world’s oldest and largest market for industrial metals, suspended Rusal’s aluminum from April 17 after the U.S. Treasury Department imposed sanctions on the Hong Kong-listed company and other Russian firms and oligarchs. The Treasury has e
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