“The European Commission intends to propose a ban on imports of Russian primary aluminum in its 16th package of sanctions against Russia in connection with its invasion of Ukraine.”, — write: epravda.com.ua
The European Commission intends to propose a ban on imports of Russian primary aluminum in its 16th package of sanctions against Russia in connection with its invasion of Ukraine. Reuters writes about it. EU countries hope to pass a 16th package of restrictions in February, on the third anniversary of the Great War. The European Commission is said to have held informal meetings with EU countries to discuss the details of the upcoming package.Advertisement: The 27-member bloc has now banned aluminum products, including wire, pipe and foil. They account for less than 15% of EU imports of this metal, which is used in the transport, packaging and construction industries. Much lighter than steel, aluminum is now the metal of choice for making a wide range of electric vehicle parts. The United States and Britain have banned imports of metals produced in Russia in 2024, but the EU has refused to follow suit due to opposition from some member states. Following this news, benchmark aluminum on the LME reached its highest level in almost a month – $2,602 per ton, but later fell by 0.1% – to $2,576.50 per ton. Advertisement: Over the past two years, Russian primary aluminum imports to the EU has shrunk Between January and October last year, the EU imported more than 130,000 metric tons of primary aluminum from Russia, or about 6% of a total of 2.2 million tons, according to information provider Trade Data Monitor. This compares to 11% and 19% in the corresponding periods of 2023 and 2022, respectively. Companies from the EU and the US can provoke a race for alternative Middle Eastern supplies, including from the United Arab Emirates and Bahrain. According to the International Aluminum Institute, in 2024 the region produced almost 9% of global supplies. Read also: Everything is not good. With what economy will Russia enter the year 2025 We will remind: According to the results of 2024, the volume of export of large-diameter pipes (TVD) from Russia decreased more than four times.