February 16, 2022

Futures for copper, aluminum, nickel at the LME are up slightly this week as market participants look for clarity on the Russia-Ukraine crisis. Early Tuesday morning, Russian claims that some of their troops were leaving the Ukrainian border area were met skepticism. NATO stated they saw no evidence of a withdrawal and has requested proof, according to Reuters. Many Western countries, including the US, are threatening Russia with economic sanctions if they invade Ukraine.  Russia is a major metals producer, so prices of copper, aluminum and other base metals might remain volatile as the threat of sanctions looms. (2/16/2022)

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Important Headlines & Economic Data

AISI Steel Capability Utilization Rate

Investing.com Economic Calendar 

2/15/2022: Russia says it pulls back some of its troops, Ukraine and West want proof

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2/10/2022: Indonesia suspends operations of more than 1,000 miners