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