Black Swan brings aluminum and nickel to burn
"Black Swan" brings aluminum and nickel to burn
"No one thought that the "black swan" was flying all over the world this year, aluminum was the first to benefit," a futures investor said with emotion. This wave of aluminum prices came too suddenly.
On April 6, the U.S. Department of the Treasury imposed sanctions against the aluminum giant RUSAL. The aluminum supply structure suddenly changed. The London Stock Exchange and the CFETS stated that they will not accept metals from Rusal. Japan, South Korea and other commodity traders also said they no longer trade RUSAL aluminum products. The sanctions have caused Rusal’s share price to drop by nearly 70%. Rusal’s US dollar debt financing channel was blocked and a series of incidents had a huge impact on RUSAL’s capacity.
Related Industry Knowledge