Alcoa Corp., the largest aluminum producer in the US, warned that the conflict between Russia and Ukraine might affect the global aluminum market.
Roy Harvey, the President and CEO of Alcoa, said any form of aggressive behavior of both nations could not only affect the supply of Russia, the second-largest aluminum producer in the world, but also lead to an increase in energy prices.
As aluminum is a high-energy consumer, the two countries’ conflict would have a knock-on effect on the aluminum industry and impact aluminum demand.
According to statistics from the US Geological Survey, Russia’s aluminum production amounted to roughly 3.6 million tons in 2020.
Comments
No comment yet.