LME Halts Flows Of Russian Metals To The U.S.

The London Metal Exchange (LME) has suspended the inflow of Russian base metals into its U.S. warehouses prior to the planned imposition of tariffs on Russian metal by the United States. Aluminum will be the hardest hit with the U.S. slapping penal tariffs of 200% on imports of Russian metal, effective March 10.

Import tariffs on other metals including copper and lead will now double to 70% while nickel will be subjected to a 35% duty. Only 400 tonnes of Russian metal was already in U.S. warehouses registered with the LME during the time…