Business Maverick: Aluminium heads for more supply chaos as Biden weighs Russia ban

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

A complete US ban on Russian aluminium threatens to upend a global market already reeling from multiple disruptions, throwing a spotlight on how China could fill any supply gap.

The Biden administration is considering options including sanctions on Russia’s top producer of the metal as the White House looks to punish Moscow for its military escalations in Ukraine, according to people familiar with the deliberations. The measures would add to a tumultuous year of price swings, supply shifts and demand turmoil in the wake of Russia’s February invasion.

Sanctions on United Rusal International PJSC would be the most consequential of the options under consideration, which also include a US import ban, or punitive tariffs on Russian supplies. Russia is the world’s second-biggest supplier of aluminium after China. China is by far both the world’s biggest producer and consumer of aluminium. Under a reconfiguration of trade flows, metal from Russia could potentially be used by its domestic industries, with China then boosting overseas sales of its own metal along its well-established export routes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

USA has also banned some metal from China due to poor grade quality. Looks like Bidens foreign policy is biting him in the A.. I am not sure he has a foreign policy other than to piss off everyone.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines