Russia’s Export Tax is Set to Disrupt the Aluminum Market
June 29, 2021
EXECUTIVE SUMMARY.
1. We see high odds of a material spike in P1020 premiums, value-add product premiums, and LME prices if Russia goes ahead with an already confirmed export tax. On Friday, Russia confirmed a...
2. Why the Russian export tax is set to disrupt the world aluminum market? Russia is the world’s largest primary aluminum exporter with around...
3. What has the market’s reaction been so far? It seems the aluminum market has...
4. What other implications do we see ahead?
A. If the export tax goes ahead, the balance of...
B. Profit margins for all other primary aluminum producers and all traders holding metal will...
C. Chinese semis exports could...