Russia’s demand for “unfriendly countries” to pay for gas in rubles could have a significant impact on key metal markets. Climbing oil and gas prices are a major concern not only for the economy but also for steel and aluminum smelters. The European Union and the United States are both scrambling to bolster energy supply to relieve upward pressure on prices. Recently, Russian President Vladimir Putin made some tough talk about forcing “unfriendly countries” to pay for Russian gas in rubles, leading us to wonder how that might impact aluminum prices and steel prices. There are fears that Russia’s economic isolation will begin to affect aluminum prices or steel prices. Those impacts would further burden manufacturers still trying to catch up from the pandemic. As condemnation over the invasion of Ukraine continues to grow, experts feel Putin may be looking for ways to prop up his country’s beleaguered economy […]