South Korea’s Imports of Russian Aluminium Surge to 12-Year High

The volume of Russian aluminium imports to South Korea reached its highest level in over 12 years this October, according to calculations based on data from the Korean statistical service by RIA Novosti. In October 2024, South Korea's purchases of aluminium from Russia totaled $96.5 million, marking the maximum monthly import volume since June 2012, when imports amounted to $117.8 million.

Compared to September, October's imports of Russian aluminium rose by 35.5%, and were more than double the value recorded in October last year. In total, during the first ten months of this year, South Korea imported aluminium worth $700.5 million from Russia—17% higher than the same period in 2023, and nearly equivalent to the entire total for last year, which was $700.7 million.

Most of the aluminium purchased by South Korea in October consisted of unprocessed aluminium, valued at $95.49 million. Additionally, South Korea imported aluminium plates and sheets thicker than 0.2 millimetres for $614,000 and aluminium wire for $437,000.

Russia retained its position as South Korea's third-largest supplier of aluminium in October. China and Australia were the top two suppliers, with imports totaling $138.7 million and $103.9 million, respectively. The United States ($63.2 million) and India ($56.5 million) also featured among the top five suppliers of aluminium to South Korea.