The United States and the European Union have increased their purchases of major types of non-ferrous metals used in industry from Russia. The U.S. and EU brought about $2 billion worth of nickel and aluminum from Russia between March and June, Reuters reported, citing U.N. international trade data.

Reuters estimated that Russian nickel and aluminum imports to the U.S. and EU increased by 70 percent between March and June, despite sanctions and trade restrictions against Russia. Total purchases of these metals amounted to $1.98 billion.

The agency estimates that from March to June, Russian aluminum shipments to the U.S. totaled about 23,000 tons per month, a 21% increase over the same period in 2021. Nickel shipments from Russia were up 70%.

The EU purchased an average of 78,000 tons of aluminum per month between March and June, up 13% from the same period in 2021. Nickel shipments to the EU increased by 22%. 

Non ferrous metals business in Russia

Russia’s Nornickel produces about 15-20% of the nickel that can be used in battery production. Rusal accounts for about 6% of the world’s aluminum production. In the spring of 2022, against the background of the military operation, world prices of aluminum and nickel reached record highs. Producers feared that sanctions and disruption of trade chains would make it impossible to supply these metals from Russia.

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