Trafigura in discussions to procure aluminium from Rusal

The Singaporean-based Swiss multinational commodity trading company Trafigura is in the discussion stage to procure aluminium from the Russian aluminium giant Rusal, as reported by one of the globally renowned media houses.

The company is highlighting its willingness to strike deals with Russian companies in the face of resistance from its biggest rival.

Trafigura, founded in 1993, trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader, having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.

The report also reveals that Trafigura and Rusal are in talks for a term contract of about 150,000 tonnes of aluminium delivered-to-China basis.

However, the above information has been unveiled following the declaration on February 24, 2023, by the United States administration towards the imposition of a 200 per cent import tariff on aluminium and derivatives produced in Russia from March 10, 2023, in response to the ongoing Ukraine-Russia geopolitical, the world's largest economy retains towards compression of Russia's revenue.

In October 2022, AlCircle reported that Trafigura has entered into a USD $800 million five-year loan underwritten and arranged by Societe Generale and syndicated to seven participating banks. The government of the Federal Republic of Germany guarantees the loan through the German Export Credit Agency (ECA) Euler Hermes Aktiengesellschaft.