The world looks with amazement at Russia’s attack on Ukraine, and markets react strongly. Which commodities have the highest risk of not being available on the market and thus starting to rise dramatically?
Perhaps the biggest concern is the gas market. The European Union covers more than 40 percent of its imports from Russia. Most of the supplies go west through the Jamal and Nord Stream 1 gas pipelines. In both cases, the pipeline runs outside the territory of Ukraine. Nevertheless, natural gas can be a commodity that will not be available on the European market.
Russia is one of the key producers of aluminum, accounting for about six percent of the global supply of silver metal to world markets. In addition to Europe, Russia also supplies aluminum to Asia or North America.
A slightly smaller share is accounted for by Russia in the case of copper mining and supply. Last year, Russia extracted and processed around 920,000 tons of copper, representing about 3.5 percent of global production. The largest markets are Europe and Asia. Russia also supplies the world market with nickel, cobalt, palladium, platinum, titanium or steel. Possible sanctions may thus be reflected in the form of an increase in the price of a number of key commodities that Russia supplies to European, Asian or American companies.
