The recent "traffic jam" in the Suez Canal has added to the shipment delays affecting some minor metals whose markets are highly dependent on supplies out of China, and has already sent some prices to multi-year highs.
Transit through the pivotal Suez Canal shipping lane has been blocked by the large containership Ever Given since late on March 23, creating a traffic jam involving more than 100 vessels.The combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has been responsible for a rapid increase in...