[Ferro-Alloys.com] 

Nornickel says new Western sanctions raise risk of metals market disruption

US and British sanctions imposed on Russian nickel, copper and aluminum will further increase price volatility and supply uncertainty, Russian metals-producing giant Norilsk Nickel said on Tuesday.

“Nornickel regrets this decision as it will further increase price volatility, supply uncertainty and lead to higher premiums, all of which will negatively affect consumers of these metals across the globe,” Nornickel said in a statement.

It said the risk of market disruptions would rise, as liquidity would deteriorate and the cost of financing of critical industrial supply chains would increase.

Since February 2022, Nornickel and Rusal have shifted their focus to Asia, whose share in their revenues last year exceeded 50% and 38% respectively. 

• [Editor:邢亚敏]