- EU has discussed for months possible ban of Russian aluminium
- Expected to propose another package of import bans - source
- Loss of Russian aluminium would leave Europe with shortfall
- Aluminium prices spiked in wake of US sanctions on Rusal in 2018
- Middle East accounted for about 9% of global supply in 2023- IAI
LONDON, March 4 (Reuters) - European and U.S. buyers will compete aggressively for Middle Eastern aluminium if the European Union bans Russian metal in coming months, sparking price rises reminiscent of 2018 when sanctions were imposed on Rusal.
A race for aluminium from Middle Eastern countries, including the United Arab Emirates and Bahrain, will fuel inflation for Western companies in the transport, packaging and construction industries - already facing high raw material and payroll costs.