Prices of platinum group metals and nickel rose in London on Wednesday after the U.K. placed Vladimir Potanin, the chief executive and principal shareholder of Russian mining giant Norilsk Nickel, on its sanctions list.
Nickel and Palladium both rose around 6% initially in response to the news, before paring gains. By 10:20 AM ET (1420 GMT), palladium futures on the London Metals Exchange were up 4.5%, while Platinum futures were up 0.5%.
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