The group continued to comply with existing contracts, but promised not to enter into any new business relations with Russia after the outbreak of hostilities in Ukraine. Trafigura Group, one of Glencore's biggest trading rivals, is reportedly in talks to procure its own metal supply from Rusal, citing people familiar with the matter.
Glencore won't renew contract with Rusal
Glencore, a Swiss commodity trader, will not renew a $16 billion deal to buy aluminum from Rusal when it expires next year.
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