Embattled London Metal Exchange Is Headed for Another Fight

Glencore Plc, which renewed a long-term supply deal with Rusal in 2020 that was worth $16 billion at the time, is also expected to buy huge volumes of Rusal’s commodity-grade metal under the contract next year. Yet, in an indication of how the issue is dividing the industry, US aluminum producer Century Aluminum Co., in which Glencore owns a 43% stake, has — like Alcoa — been lobbying for the US to impose sanctions on Russian aluminum, according to people familiar with the matter.

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