The Aluminum Association, a trade association for the aluminum production, fabrication and recycling industries and their suppliers, has flagged a warning of the worldwide ripple effects due to the Russia-Ukrain geopolitical conflict.
The association has assured the aluminium industry stands united in support of all kinds of efforts deemed by the US government and its allies to address the ongoing crisis. They have also persuaded their members to work closely to ensure compliance with the newly announced measures.
Last week, the United States announced a fresh round of a 200 per cent import tariff on Russian aluminium to mark a year of the Ukraine-Russia conflict. This will increase the cost of aluminium originating in Russia to enter the US market.
Russia, one of the leading producers of aluminium ex-China, accounts for about 3 per cent of US aluminium imports. In 2022, the import volume of aluminium goods from Russia was 200,000 tonnes. Russia was the sixth largest source of aluminium for the US, after Canada, Bahrain, China, and the United Arab Emirates.
In 2016 and 2017, the United States' Russian aluminium imports were valued at 1.67 billion and 1.64 billion, respectively. 2018 onwards, it decreased as sanctions were rolled out on the metal.
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