The United States is considering a potential tariff of up to 200% on Russian aluminum which could impact the West’s already-short supply
A potential aluminum shortage could be rearing its ugly head once again. This will prove especially true if the U.S. goes ahead with a proposed move to shut out all Russian aluminum unilaterally. Currently, the plan is to accomplish this via a tariff of up to 200%.
The only region with a surplus of metal is Asia, where main Japanese port premiums have eased from $99 last quarter to $88-89/ton. According to the same Reuters post, this represents the fifth straight quarterly decline. Essentially, this means that Asia remains well supplied by Chinese exports of semi-finished products. And while Chinese smelter output is up, there are also record inflows of cheap Russian ingot coming in.
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