(bloomberg.com) - A possible ban on Russian supplies by the London Metal Exchange would be a seismic event for the metals industry, cutting some of the world’s biggest companies off from the main global marketplace. The exchange has yet to make a decision, but on Thursday launched a formal three-week discussion process on the possibility of banning Russian metal, potentially as soon as next month. In practice, a ban would simply mean that metal from Russia — which accounts for about 9% of global nickel production, 5% of aluminum and 4% of copper — could no longer be delivered into any warehouses around the world in the LME network, which store metal used to deliver against futures contracts when they expire.
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