Russian Federation

European Trade Group Pushes Back Against Calls For Banning Russian Aluminium In LME Warehouses

European Trade Group Pushes Back Against Calls For Banning Russian Aluminium In LME Warehouses

The war of words over Russian aluminium at London Metal Exchange warehouses continued on Friday, as another trade industry group came out in opposition to calls to ban it from the platform. On Friday, the Federation of Aluminium Consumers in Europe (FACE)...


Aluminium Magnate Oleg Deripaska Critical Of Russia’s Outdated Financial System

Russian oligarch and aluminium titan Oleg Deripaska went on record earlier this week criticizing his country’s outdated financial system, noting that Russia’s financial sector is going backwards while the rest of the world leaves them behind. Although criticism of Moscow by Russians can be dangerous, it appears that the founder and stakeholder in UC Rusal […]

Glencore Declining To Renew US$16 Billion Contract With Rusal

In a move that stunned the aluminium world, Glencore plc announced that it is not renewing its US$16 billion contract with Russian aluminium titan UC Rusal. In an interview with Bloomberg, Glencore’s CEO Gary Nagle said it will complete the contract it has with Rusal, but, under its new policy of shunning business from Russia, […]

LME Bans Russian Aluminium In US Warehouses

Earlier this week the London Metal Exchange (LME) made the decision to ban Russian aluminium from its warehouses in the United States due to the recently enacted import tariffs. Late last week the Biden Administration announced new import tariffs on Russian aluminium of 200 percent. These tariffs will go into effect on March 10. In […]

LME Stores Of Russian Aluminium Hit 42 Percent In January

The London Metal Exchange this week confirmed that its holdings of Russian aluminium rose as expected in January to a total of 42 percent of the aluminium stock in its warehouses. According to a report just released by the LME, of the 152,841 metric tons of primary aluminium in its warehouses, 93,750 metric tons had […]

Arconic Completes Sale Of Russian Aluminium Assets To Russian Titanium Giant

Pittsburgh aluminium value-added firm Arconic announced the completion of the sale of the entirety of its Russian operations to Promishlennie Investitsii LLC for US$230 million. Arconic notes that the closing occurred upon the receipt of all necessary approvals, at which point Promishlennie Investitsii tendered the US$230 million cash payment. The cash held in Russia was […]