Rusal to pass through part of Russian export duty to aluminium buyers

Aluminium producer UC Rusal will pass through some of the Russian government's proposed export duty, scheduled to take effect in August, to its customers rather than absorb the entire tax, a source close to the company has confirmed.

Aluminium market participants were bracing for the imposition of export duties on Russian material, after the country's government authorized the taxes on a range of metal products last month.
Market participants now wanted to know whether Rusal would absorb or pass through the tax burden. How Rusal proceeds in this regard will have major implications for regional premiums.
The company declined to comment at the time of publication.
A source close to the company revealed to Fastmarkets that some of the duty will be passed through to Rusal's customers, but they did not say how much.
One consumer estimated that the company would probably try to pass through about 7-9% of the duty, which will be imposed at a base rate of 15%.

"I don't doubt [Rusal] will try to pass [the duty] through, because [it would] be stupid not to try [to do so]," the consumer said....

Mixed outlook for gold as it remains range bound for past three months

Gold stocks down on flat metal price

Gold stocks down on metal decline

Huge quantifiable rise in geopolitical, economic and trade risks

Platinum clearly ahead of palladium for first time in seven years