Contents tagged with aluminum
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Russia's aluminum giant feels the strain of sanctions, production slashed amid rising costs
Russia's aluminum industry faces a crisis as alarming news emerges from Rusal about a sudden production cut. The country's largest aluminum producer, Rusal, has announced a reduction in aluminum output by 250,000 tons. The company attributes this decision to record-high alumina prices— a crucial raw material— and deteriorating macroeconomic conditions.
Rusal, owned by prominent Russian oligarch Oleg Deripaska, who is closely tied to the Kremlin, has found itself procuring more than a third of …
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Finnish aluminum exports to Russia surge in 2024
According to Finnish customs data, during the first nine months of 2024, Finland exported aluminum worth $22.3 million to Russia, compared to just $11.3 million over the same period in 2023, broadcaster YLE reports.
This marks a twofold increase in aluminum exports to Russia. It's noted that the aluminum is either shipped via sea routes or transported through the Baltic countries. Presently, aluminum sales constitute the main category of Finnish exports to Russia. Finland houses three major …