1. The United States announced new trading restrictions on Russian aluminum, copper and nickel, a move that could destabilize global metals markets. The new rules, which prohibit the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) from accepting newly produced metals from Russia, apply to Russian aluminum, copper and nickel produced on or after April 13. Metals produced before that date are not restricted. The United States has also banned imports of the three metals from Russia.
2. Recent geopolitical risks are frequent, the conflict between Russia and Ukraine is still ongoing, the Red Sea war has not stopped, and the price of international shipping is still strong.
Due to the rising price of stainless steel raw materials, which in turn affects the price fluctuations of stainless steel products, it has become an inevitable reality.
Luoyang Huien metal products Co.,LTD keeps you updated on steel price trends.
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