The London Metal Exchange has decided against a ban on deliveries of new Russian metal after soliciting market feedback on whether it should take action.
“The LME will proceed with the status quo in respect of Russian metal,” it said in a notice to members on Friday.
The metals industry has spent weeks debating what to do about supplies from Russia, which is a major producer of copper, nickel, aluminum and palladium.
Large producers like Alcoa have lobbied to have Russian metal excluded from western markets through bans or sanctions, pointing to the risk of pricing dislocations as more and more users try to avoid buying from Russia.