Brazil’s aluminium industry is under pressure from overseas suppliers after recent tariff changes. India’s largest producer Vedanta has been sending more metal into Brazil, increasing shipments to local buyers. Traders also reported that Russia’s top producer, Rusal has also entered the market with small trial sales.
Traders also noted that Rusal, Russia’s top producer, has entered the market with small trial sales.
A trader said, “I have been hearing a lot of rumours about Rusal’s approach. I heard that it had already made some sales and the cargo was about to arrive, and they would do a test [of the material].”
Alumar, one of Brazil’s largest smelters, confirmed the shift, “The Brazilian market has attracted the attention of various producers, which increases competition,” a spokesperson told Fastmarkets on Monday.
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