Russia is considering the exemption of export duties at two RUSAL smelters

It is reported that Russia is considering the exemption of export duties at two RUSAL smelters. Rusal, the world’s second largest aluminum producer, has asked the Russian administration to lift export duties on its latest two aluminum smelters, Taishet and Boguchansky, which account for about 10% of its production.

From October 1 to the end of 2024, Russia will impose export duties pegged to the ruble-dollar exchange rate on a wide range of goods, including aluminum, to increase fiscal revenues and protect the domestic market.

At a time when aluminum prices are falling, RUSAL has made a request for exemption from export duties.

Deputy Minister of Industry and Trade of Russia, Viktor Yevtukhov, said that the department is "studying the feasibility of such support measures.”