The Russian government’s press service has confirmed that the aluminium produced in Russia will be imposed with an export duty of 15% plus $254 per tonne from 1st August through 31st December.
On 25th June 2021, Russian Prime Minister Mikhail Mishustin signed an official decree towards the approval of export duties on 340 non-ferrous and steel products. Primary aluminium, under harmonized system code 760110, will also be taxed.
Products like aluminium bar, rod and profiles were not targeted, while some specific aluminium alloys were included in the list. The export tariff bears a 15% base rate and a specific rate of $254 per tonne.
In recent years, Russia is not very much considered a major supplier of primary aluminium to North America. Alternatively, it had been selling mainly value-added aluminium products to this market, whereas Russia sells a significant volume of primary aluminium to Europe and Asia.
The export tariffs will not be imposed, if Russian aluminium is exported to countries within the Eurasian Economic Union - Armenia, Belarus, Kazakhstan and Kyrgyzstan.
On 25th June 2021, the Russian government’s press service said: “The introduction of duties will make it possible to mitigate the influence of external conditions on the domestic market, and to adjust prices for metals and metal products.”
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