Russia Moves to Exempt Aluminium Production Materials from Import Duties

The Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims to ensure the availability of essential raw materials for the aluminum industry to meet production, consumption, export, and import targets.

The Ministry of Industry and Trade confirmed the preparation of the decree, noting that the term for exchange rate export duties, including those on aluminum, will conclude on December 31.

In related news, Rusal reported a 4% year-on-year decline in aluminum exports for the first nine months of 2024, totaling 2.19 million tons. The total volume of aluminum shipped by UC Rusal smelters, including domestic shipments within Russia, was 1% lower than in 2023, amounting to 2.69 million tons. However, intra-Russian shipments increased by 15% over the same period, reaching 503,000 tons.