Swiss commodity trader Glencore, one of the biggest buyers of aluminum produced by troubled Russian aluminum giant UC RUSAL, has declared force majeure on 50,000 tons of aluminum contracts, Bloomberg reported citing people familiar with the matter.
“The declaration applies to about 50,000 metric tons of contracts between Glencore and aluminum consumers that specify the metal should be of Russian origin,” the agency said quoting people asking not to be identified because the matter was confidential.
On April 6 the U.S. imposed sanctions against 38 Russian tycoons, officials and companies, including RUSAL. (Prime/Ukrainian metal)
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