sanctions - Latest news GMK Center

The reasons for this are sanctions, the consequences of the coronavirus pandemic, and logistical problems

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

The company assures that the agreement on the supply of raw materials was concluded before the cessation of trade relations with Russia

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

The new reality has learned Ukrainian mining & metals industry to be flexible and make quick market decisions

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

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