The US' sanction against United Company RUSAL (RUSAL) has frozen its export to western market. This brought a great impact on the market, including price rise around 10% and the metals exchange’s refuse of new RUSAL supplies according to the report. RUSAL occupied around 6% of the global output of aluminum and the shortage of its supply would impact severely not only in Russia but globally.
Russian government was seeking to deal this issue with the US since the company accounted for about 16% of the country’s export earnings based upon the source. In the meantime, there were plans to assist RUSAL’s supplies to shift to other western market by transferring smelters to a non-sanction company. Also, the market expected the price rise would lure the export of aluminum from China which was another biggest aluminum production nation.
RUSAL aluminium’s shut down of market makes great deficiency & disturbance
12 Apr 2018 14:44 reported by Chun Chien
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