Commodities prices surged across the board Thursday amid fears of a supply disruption after Russia invaded Ukraine. Russia is a key producer and exporter of not just energy, but metals and grains, too. Markets were already tight ahead of the invasion, meaning there’s little ability to absorb any output cuts. Aluminum prices jumped more than 3% to hit a record…
Russia is a key producer of all four metals. The country supplies 35% of the world's palladium and 10% of world platinum, according to data from Cru. Aluminum, nickel, and crude steel production stands at 6%, 5% and 4%, respectively.
"[A]luminum and nickel are making further gains amid fears that these two base metals could suffer supply outages from Russia as sanctions are imposed and counteraction is taken," Commerzbank said Thursday in a note to clients.Download our local news and weather app for
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