Complete Ban On Russian Aluminum Considered By The U.S.

A complete ban on Russian aluminum is being considered by the Biden administration as a response to Russia's missile attacks on Kyiv and other Ukrainian cities this week. Sanctions for such a ban had been put off for a long time due to the metal's extreme importance in various sectors including automobile, construction, and mobile phone manufacturing.

The globally traded aluminum market will be extremely affected by such a move as it may force metal consumers in the US as well as other countries into a rush to find replacement metal. The global prices of the metal used in a wide range of consumer products would most likely see a rise due to the unfinalized ban. This is not looking good for the global markets.

At the moment the White House is looking at three options which involve an outright ban, raising tariffs to levels so punitive they would impose an effective ban, or sanctioning United Co Rusal International PJSC, the company also known as Rusal that produces Russia's metal, said reports.

A white house official told the media that all options were being considered and no immediate movement was made on the topic.

He said, "We're always considering all options." "There is no movement on this as of now."

No immediate responses were made by the Commerce Department and Rusal’s press service when requested for comment.

The debate within the metals industry over how to address Russian supplies has intensified in recent weeks.

China is the largest producer of aluminum in the world followed by Russia in second place which is critical to most heavy industries. Around 10% of total aluminum imports in the US comprise Russian supplies. Data shows that Russia was the third-largest exporter to the US in August.

At Least 26 people across Ukraine have been killed by Russian missile attacks since Monday. More than 100 missiles were used by Russia in its recent attacks.

On Wednesday, Oct 12 President Joe Biden said "It's brutal, it's beyond the pale," regarding the missile attacks. He pledged ongoing assistance to Ukrainian President Volodymyr Zelensky on Tuesday.