|
MSC, Maersk, and CMA CGM, which are the world’s three largest container shipping companies, have all stopped booking shipments to and from Russia. These cancellations are in response to Western sanctions against Russian banks, according to Reuters. Maersk handles “some” aluminum shipments for Rusal, also according to Reuters. Maersk’s most recent annual report does not detail Russian shipping volumes. Rusal is the largest aluminum producer outside of China, with 3.76 million mt of production in 2020 or about 5.7% of world production, according to S&P Global and USGS data. Also, several unnamed shippers have refused shipments from Russian nickel miner Norilsk Nickel, according to Bloomberg. Norilsk Nickel is the world’s largest nickel miner, producing approximately 235,000 mt in 2020, or about 9.4% of global production according to S&P Global and USGS data. These shipment cancellations could further strain metals supplies from Russia and might drive prices higher. Consumers who are concerned about input costs might consider purchasing swaps or call options. Please note that doing so might incur losses if prices decrease. Please contact AEGIS for specific strategies that fit your operations. (3/3/22) |
|
|
|
|
||
Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
||
|
|
||
Price Indications |
||
|
|
||
|
|
||
Today's Charts |
||
 |
 |
|
 |
 |
|
AEGIS Insights |
||
|
03/02/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 02/15/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) |
||
|
|
||
| Important Headlines | ||
|
3/1/2022: World's largest container lines suspend shipping to Russia 3/1/2022: Russian miners hit by sanctions likely to get boot from FTSE 100 3/1/2022: Aluminium nears record high as Russia-Ukraine conflict threatens supplies 2/28/2022: Rusal halts alumina shipments from Ukraine 2/28/2022: Ukraine’s Ports to Stay Closed Until Russian Invasion Ends – Maritime Administration 2/28/2022: Invasion sparks EU flat steel supply concerns 2/25/2022: Ukraine ports and steel plants shut down: Update 2/24/2022: Invasion halts Ukraine steel shipments; appetite wanes for Russian steel |
||
|
|
||
|
|
||
| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
|
||
