Global aluminium market – Russia could see a decline in exports

08 April 2022
Global Trade Data

The global aluminium market will see significant changes in 2022 due to global supply chain disruptions. Countries have put sanctions on Russia over its invasion of Ukraine. Many key importers may refuse to purchase aluminium from Russia, resulting in the restricted flow of commodities. Russia is one of the largest suppliers in the global aluminium market, shipped aluminium worth US$8,750 million in 2021. Let’s have an in-depth analysis of the global aluminium market and Russia’s share in aluminium exports.  


Russia’s Aluminium Exports


Russia’s aluminium exports have increased to US$8,750 million in 2021 from US$5,463 million reported in 2020. In all quarters of 2021, Russia recorded growth in aluminium exports. According to our database, before the beginning of the Russia-Ukraine war in Feb, Russia exported aluminium worth US$479 million in January 2022. As Russia’s invasion of Ukraine continues, there is no report of data. However, it certainly looks like Russia’s aluminium exports will decline substantially as many countries have put sanctions on the country against the invasion. Meanwhile, have a glimpse of aluminium exports from Russia by the quarter of 2021.



Quarter

Value US$ Million

2021-Q1

1,463

2021-Q2

1,952

2021-Q3

2,972

2021-Q4

2,362

 


Global Aluminium Exports


Globally, aluminium exports stood at about US$165 billion in 2021, in which Germany had the largest share. Other major exporters of aluminium are the United States, Canada, Russia, and Malaysia. Below given chart shows the dollar amount of these countries.



Country

Value US$ Million

Germany

18,830

United States

12,022

Canada

12,189

Russia

8,750

Malaysia

7,257


Leading Aluminium Importer Countries


According to global trade data, countries imported aluminium about worth US$163 billion in 2021. Major importer countries of aluminium last year were the United States, Germany, Japan, South Korea, and France. Below given chart shows the dollar amount of these countries.



Country

Value US$ Million

United States

28,704

Germany

21,255

Japan

9,592

South Korea

8,458

France

8,258

 


Financial and logistics sanctions imposed on Russia amid its invasion of Ukraine could damage supply chains, leading to local metal shortages in European countries and the U.S. and higher aluminium prices. Russia may lose its share in global aluminium exports due to possible secondary sanctions on countries that will continue importing from the country. Competitors like Canada are likely to attempt to drive out Russia from the market.

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