American Novelis has promised not to buy aluminum from Russia
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A division of the Indian Hindalco Industries Ltd, the American company Novelis, one of the world’s largest aluminum consumers, plans to abandon Russian metal from 2023 to supply its European enterprises. About it informs Bloomberg, citing a company representative and sources.
This week, the company announced a tender for the supply of metal to its European enterprises. The terms of the tender state that aluminum of Russian origin will not be allowed in any transactions.
Bloomberg sources say that existing contracts will not be affected by the ban. Bloomberg notes that if other companies with factories in Europe refuse Russian metal, then Russian producers will have to look for new buyers, which can radically change the situation on the market.
Russia is one of the largest suppliers of aluminium, nickel and copper in the world. These metals did not fall under either European or American sanctions.
Novelis Inc. is an American company producing aluminum products, owned by the multinational company Hindalco Industries Novelis.
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