Industry News

Aluminum prices to be supported by Canada's ban on Russia's aluminum imports

Views : 113
Update time : 2023-03-13 18:08:27
On March 11, Canada's government announced that aluminum and steel products imported from Russia will be banned. Besides, in February, the US government also announced to impose a 200% tariff on aluminum products from Russia, effective on March 10. US and Canada's policies against Russian aluminum will support the aluminum price recently.

Market participants said that Russia is one of the biggest aluminum producers in the world. After Canada bans imports from Russia, Canadian enterprises will definitely purchase from other countries, which will push prices high.

The US government imposed 200% on Russian aluminum, so US enterprises will source from other countries, which will also push the price to another high level.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices