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Can China keep Russian aluminium smelters afloat?

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23 May 2022

Can China keep Russian aluminium smelters afloat?

Report summary

It’s been more than two months since UC Rusal suspended operations at its 1.75 Mtpa Nikolaev alumina refinery in Ukraine. The subsequent Australian alumina export ban put further pressure on Rusal to secure the necessary tonnages to maintain stable output. There have been widespread concerns that the closure of the Nikolaev refinery together with a loss of shipments from QAL would severely dent the ability of Russian aluminium smelters to maintain planned metal output levels. In this insight we explore how China is keeping Rusal’s smelters going.

Table of contents

    • Is Chinese or Australian alumina going to Russia?
    • Does China have surplus alumina for exports?
    • What are the additional costs for Russian smelters importing alumina from China?
  • China as the market of last resort for alumina

Tables and charts

This report includes 1 images and tables including:

  • China monthly alumina imports and exports (kt)

What's included

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  • Document

    Can China keep Russian aluminium smelters afloat?

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