Enquire: +86-571-88225041
Email: aluinchina@hotmail.com
Your Location > Home > News & Market >Domestic News > Rio Tinto CEO warns that Russian aluminium imports are hurting US market
Today' Focus
-
Hangzhou Jinjiang Group's general manager Zhang Jianyang, vice general manager Sun Jiabin and their team had attended the SECOND BELT AND ROAD FORUM FOR INTERNATIONAL COOPERATION, they also attended the signing ceremony of comprehensive strateg...
International News
Domestic News
Domestic News
Rio Tinto CEO warns that Russian aluminium imports are hurting US market
- China Aluminium Network
- Post Time: 2022/9/27
- Click Amount: 898
-
【Aluminum Road Network】
RioTinto Plc executives have warned that the unrestricted flow of Russian aluminum into the U.S. is undermining the competitiveness of North American producers.
While allies such as Australia continue to face restrictions left over from the Trump administration, Russian imports remain exempt from U.S. sanctions, Chief Executive Jakob Stausholm said in an interview at Bloomberg’s New York headquarters. is flowing into the country without restrictions. His comments were the most candid about the aluminium industry since taking the helm at Rio in early 2021.
The warning from the head of one of the world's largest aluminum producers came as U.S. trade data showed Russia was the third-largest aluminum exporter to the U.S. in August. Monthly imports from Russia rose nearly 60% last month from April levels, despite global buyers refusing to buy Russian metal due to the invasion of Ukraine.
Aluminium prices have fallen more than 20% this year as global demand has been hit by inflation, supply chain issues and soaring energy prices in Europe. Aluminum shipping prices in the U.S. region are near their lowest levels since December, suggesting that demand for window-framed appliances and cars is shrinking in the face of uncertain economic headwinds in the world's largest economy.
“It is very difficult to have a profitable aluminum industry in North America at the moment because of the inflow of Russian aluminum,” Stausholm said. “Now that we have the lowest aluminium prices this year, you would think the Russia-Ukraine crisis would lead to higher aluminium prices.”
Fears that the move will stifle its most important supply Source:
- Copyright and Exemption Declaration :①All articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China
Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China
Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this.
②Articles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or
accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the
articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey
this.
③If any articles copied by our website concern the copyright and other problems, please contact us within one week.
