The London Metal Exchange’s decision earlier this month not to curb the warranting of Russian metal in its warehouse system might have been expected, given its previous remarks on preferring elected governments to take the lead on any re-strictive measures. But with no such government action forth-coming, the efects of this position on the European aluminium market could be signifcant. The London Metal Exchange (LME) decided on 11 November not to introduce restrictions on warranting Russian metal in response to Russia’s invasion of Ukraine. During LME Week at the end of October, chief executive Matt Chamberlain said the exchange would follow the lead of governments in address-ing the issue of Russian metal, and remain in position to react rapidly once such measures are in place.
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