24.02.2023, 19:03
The US will impose a duty of 200% on aluminum imports from Russia
Source: OREANDA-NEWS
OREANDA-NEWS The United States has been imposing a 200% duty on imports of aluminum and aluminum products from Russia since March 10. From April 10, Washington will impose a duty of 200% on products containing Russian aluminum, the White House press service reported.
"The Russian aluminum industry is a key part of Russia's defense industrial base and played an important role in supplying Russia with weapons and ammunition used in the war. In addition, Russia's war against Ukraine has led to an increase in world energy prices, which has caused direct damage to the US aluminum industry," the White House said in a statement.
"RUSAL, as the main supplier of aluminum in the United States, will be under attack, first of all. According to the results of the first half of 2022, deliveries to America accounted for 7 percent of revenue. This is a sensitive value, but volumes can be redirected to other markets," Dmitry Puchkarevsky, an expert on the stock market of BCS World of Investments, told Rossiyskaya Gazeta.
Mark Goichman, chief analyst at TeleTrade, suggests that by February 2023, the company's sales had decreased from 7 to 5-6 percent. And the increase in duties to 200 percent will completely stop the supply of aluminum from Russia.
"But in this case, the Russian manufacturer will mainly be able to replace these volumes with exports to other countries, primarily to Asia, in particular to China. So RUSAL's losses will not become very significant," the expert is sure.
"The Russian aluminum industry is a key part of Russia's defense industrial base and played an important role in supplying Russia with weapons and ammunition used in the war. In addition, Russia's war against Ukraine has led to an increase in world energy prices, which has caused direct damage to the US aluminum industry," the White House said in a statement.
"RUSAL, as the main supplier of aluminum in the United States, will be under attack, first of all. According to the results of the first half of 2022, deliveries to America accounted for 7 percent of revenue. This is a sensitive value, but volumes can be redirected to other markets," Dmitry Puchkarevsky, an expert on the stock market of BCS World of Investments, told Rossiyskaya Gazeta.
Mark Goichman, chief analyst at TeleTrade, suggests that by February 2023, the company's sales had decreased from 7 to 5-6 percent. And the increase in duties to 200 percent will completely stop the supply of aluminum from Russia.
"But in this case, the Russian manufacturer will mainly be able to replace these volumes with exports to other countries, primarily to Asia, in particular to China. So RUSAL's losses will not become very significant," the expert is sure.
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