32.1 C
Friday, June 2, 2023

Chinese purchases of Russian aluminum shoot up by 200% – customs data

Imports reportedly tripled in April year-on-year

Beijing bought nearly 89,000 tons of refined aluminum from Russia in April – nearly three times the amount purchased during the same period last year and the second-highest volume on record, Bloomberg reported on Monday, citing Chinese customs data.

Since the start of the conflict in Ukraine, between March 2022 and February 2023, Chinese imports of Russian aluminum increased by nearly 94% to reach 538,500 tons worth $1.36 billion. Russia’s share of Chinese aluminum imports stood at roughly 69% last year.

Russia has in turn increased purchases of Chinese alumina – a substance used in the smelting of aluminum metal, according to the media outlet.


China is the world’s largest aluminum producer and consumer, accounting for around 59% of global production of the metal in 2022, according to the International Aluminum Institute.

READ MORE: Britain bans Russian diamonds

Russia, one of the world’s top aluminum exporters, has seen its exports restricted by the US and its allies. In February 2023, Washington imposed 200% duties on imports of Russian-made aluminum products. In March, Canada banned imports of Russian aluminum and steel.

Russian aluminum producers have responded by turning to countries that have not supported Western sanctions.


For more stories on economy & finance visit RT’s business section

May 24, 2023 at 04:53PM


Support Us

Secured by Paypal

Related Stories

Check out other tags:

Most Popular Articles