Russia

RusAl owns the property of the Mykolaiv Alumina Plant in Ukraine

United States to increase tariffs on 570 groups of Russian goods worth $2.3 billion

After the imposition of Western sanctions, Russia shifted all exports to Asian markets, reducing demand for Iranian steel

Thanks to Chinese sellers, cheap steel from Russia enters the Taiwanese market, negatively affecting the local market

In general, steel production in the country may fall by 15%

From June 16, Russian steel companies will be completely excluded from association's activities

The reason of seizure were earlier imposed sanctions

American companies to stop operations with Severstal until August 31, 2022

Shutdown of the Mykolaiv alumina plant and deliveries from Australia forces the Russian Federation to look for alternative markets

The new export tariffs will be valid until July 31

They have not managed to reorient supplies from Europe to Asia

The reasons are sanctions, strong ruble and a sharp rise of coal and freight prices