The global aluminium market is facing "increased market uncertainty" following the United States' import tariffs on the metal, sanctions on UC Rusal and the Brazilian authorities' order to halve production at Alunorte refinery, Norilsk Hydro said on Wednesday April 25.
"The US sanctions on Rusal have caused great uncertainty in the world's aluminium markets and will impact trade flows and availability of metal and raw materials throughout the aluminium value chain," Svein Richard Brandtz??g, Hydro's president and chief executive officer, said in the company's quarterly report. Global aluminium prices and premiums saw volatile movements in April after the US placed sanctions on Rusal earlier in the month, raising concerns over aluminium supply in the market. But concerns eased somewhat after the US...