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Metals prices may rally further if Russia-Ukraine tensions impact supply
Base metals rallied in the week starting Jan. 17 against a backdrop of rising Russia-Ukraine border tensions, higher inflation in major economies and market tightness. Analysts said continued geopolitical worries over a potential Russian invasion of Ukraine heightened the possibility that new US or international sanctions on trade with major metals producer in Russia could further squeeze tight aluminum, copper and nickel markets. "Commodity prices could soar if the Russia-Ukraine crisis escalates," said Warren Patterson, head of commodities strategy at ING Economics Jan. 21. "As tensions between Russia and ... (full story)