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Vulcan
Vulcan
Aluminum March 20, 2015 05:00:45 AM

Rise in exports of semi-finished aluminum products raises concerns

Paul Ploumis
ScrapMonster Author
The inaugural meeting of the working group on aluminum formed by Russia and the UAE has expressed deep concerns
Rise in exports of semi-finished aluminum products raises concerns

MOSCOW (Scrap Monster):  The inaugural meeting of the working group on aluminum formed by Russia and the UAE has expressed deep concerns over the rising exports of semi-finished aluminum products, especially from China.

The meeting held in Moscow last week also discussed measures to ensure transparency and fair pricing on the London Metal Exchange (LME).

The working group decided to strengthen the ties between the two nations in jointly addressing the challenges and opportunities in the aluminum sector. According to them, the exponential rise in exports of semi-finished aluminum products raises serious concerns. It noted that much of these products are further re-melted and sold in the form of primary aluminum in international markets.

The Russian contingent was lead by Sergei Tsyb, deputy minister of industry and trade of the Russian Federation. The delegation from UAE was led by Saeed Almazroui, CEO of UAE operations at Emirates Global Aluminium. The working group also decided to conduct a follow up meeting towards the end of the year, which will be held in Abu Dhabi-the capital city of UAE.