The London Metal Exchange is maintaining the status quo on its treatment of Iranian aluminium brand Iralco after the United States said this week that it will reintroduce nuclear-related sanctions on Iran, the bourse said in a notice to members on Thursday May 10.
"The LME does not propose any action in respect of Iralco brand metal at this time. The LME will continue to monitor the situation and may issue further communications if the situation changes," LME chief executive officer Matthew Chamberlain said. The suspension of deliveries of primary aluminium brand Iralco, produced by Iran Aluminium Co, which was announced in December 2011 and became effective in January 2012, remains in effect. "Despite the suspension...