RUSAL will limit aluminum exports as the Russia’s taxation
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Update time : 2021-07-22 18:25:11
One of the global leading aluminum manufacturers RUSAL based in Russia, said it may reduce aluminum exports by hundreds of thousands of tons this year from its current annual export volume of around 3 million tons after Russia’s government starts to levy export taxes in August as the duty imposition will weaken the profitability for these metal exports.
Russia announced in June that an export duty of at least 15% on exports of steel, nickel, aluminum, and copper will be imposed from August 1 in order to curb the continuously rising commodity prices and boost the national treasury.
According to RUSAL, the demand for aluminum will remain strong with rising prices, but it will be hard to reach a historical high of above US$3,300/ton.
