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Rusal's Guinea bauxite export stalled due to the Ukrainian crisis

Views: 0     Author: Site Editor     Publish Time: 2022-04-08      Origin: Site

According to foreign media on March 30, shipping data on Wednesday showed that due to the war in Ukraine disrupting the global business of Rusal, a Russian Aluminum giant, the ore transportation of the company's bauxite in Guinea stalled.best high strength aluminium - YuanfarAluminum

Unlike several other Russian companies, Rusal itself was not sanctioned despite sanctions against its founder, billionaire Oleg Deripaska. But the stagnation of exports shows that the war and strong opposition to Moscow's action have caused serious damage to global supply chains and may push up the prices of many commodities.

Rusal announced its 2021 earnings on Wednesday. The company produced 3.8 million tons of aluminum last year, accounting for 5.6% of the global aluminum supply. Aluminum is used in everything from satellites and airplanes to cans and toasters.

Rusal's Guinean executive, who asked not to be named, told Reuters that the company was hoarding bauxite at Kindia mine and that fewer trains were transporting bauxite to the port as the port's inventory capacity was about to run out.

Bauxite mined in Kindia is usually sent to Nikolaev alumina refinery in southern Ukraine. However, due to the war, the plant has been closed and the Guinean bauxite that was already on the way has been transferred to aughinish. Nikolaev's alumina production accounts for about one fifth of Russia's aluminum production.

In 2021, nearly two-thirds of Rusal's 8.3 million tons of alumina production was produced outside Russia, which means that the company is highly dependent on its overseas refineries, which need a continuous supply of bauxite to maintain operation.

Australia's ban on the export of alumina and bauxite to Russia has put further pressure on Rusal. Wood Mackenzie, a consulting firm, said the ban will make it difficult for the company to maintain normal aluminum production.

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