Industry News

LME aluminum price hikes by 4.7% as Australia prohibits alumina exports to Russia

Views : 103
Update time : 2022-03-21 20:32:25
After Australia announced to prohibit alumina and aluminum ore exports to Russia on March 20, the Australian mining company Rio Tinto stopped its alumina exports to Russia, causing LME aluminum price to jump by 4.7% at the opening.

Russia is a major exporter of aluminum products, of which up to 20% of alumina is imported from Australia. Therefore, Australia's restriction on exports of alumina and aluminum ore will limit Russia's ability to produce aluminum products.

Aluminum is widely used in daily utensils, from cans to window frames. The prices have risen by 25% this year.
Related News
Read More >>
Trump’s shock steel tariff hike ripples across global markets Trump’s shock steel tariff hike ripples across global markets
Jun .03.2025
Trump’s shock steel tariff hike ripples across global markets
Weak domestic demand affected most PMI of downstream aluminium processing, with significant structural differentiation Weak domestic demand affected most PMI of downstream aluminium processing, with significant structural differentiation
Jun .03.2025
Weak domestic demand affected most PMI of downstream aluminium processing, with significant structural differentiation
Profitability improves: China's operating alumina capacity in metallurgy expected to rebound in June Profitability improves: China's operating alumina capacity in metallurgy expected to rebound in June
Jun .03.2025
Profitability improves: China's operating alumina capacity in metallurgy expected to rebound in June
GBC to supercharge Ghana’s domestic alumina industry with its upcoming Awaso refinery GBC to supercharge Ghana’s domestic alumina industry with its upcoming Awaso refinery
Jun .03.2025
GBC to supercharge Ghana’s domestic alumina industry with its upcoming Awaso refinery