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Global Metal Markets React as Putin Threatens to Restrict Russian Exports
Russia is considering restricting the export of uranium and nickel, and the uranium mining sector in the US stock market has risen significantly in response.
Russian President Putin is considering restricting the export of uranium, titanium, and nickel as retaliation against Western sanctions.
Putin has demanded that the Russian government study measures to restrict the export of strategic resources, causing a sharp rise in the prices of nickel and uranium mining companies.
According to CCTV News, Russian President Putin stated at a working meeting with the government that he requested the government to study measures to restrict the export of strategic resources, including uranium, titanium, and nickel ores, while maintaining their own interests. Putin's remarks led to an increase in nickel prices by $371 or 2.4%, and the stock prices of uranium mining companies also soared, with Canadian uranium mining company nexgen energy's US stocks rising more than 6.4% in early trading.
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The world's largest uranium mining company warns that the Russia-Ukraine conflict has increased the difficulty of supplying Western countries.
①Yussupov said that while it is easier to sell to certain countries in Asia, they do not want to overly rely on a single market or partner to avoid excessive risk. ②Kazakhstan faces dual pressures from the West and Russia, especially in terms of uranium, as it plays a key role in the global supply chain.
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