Since Russia’s aluminum plays an important role in the European aluminum supply chain, the interruption of Russia’s aluminum exports caused by sanctions from the EU and the US will significantly impact the European aluminum market.

According to statistics, the aluminum exports from Rusal to Europe accounted for about 17% of total European primary aluminum consumption in 2021.

Europe has a high dependency on foreign sources, especially Russia. The rise in natural gas prices has driven up both coal and oil prices. Therefore, European primary aluminum plants are facing high energy costs currently, and they may expand their production cuts further.