Dependence on Beijing grows: Russia sharply increases metal exports to China
Illustrative photo: Russia exports metals to China (Getty Images)
Russia sharply increased metal exports to China, highlighting Moscow’s growing economic dependence on Beijing, Bloomberg reports.
According to Trade Data Monitor, which sources statistics from China’s customs service, Russian aluminum shipments to China rose nearly 56% in May compared to the same month last year, reaching about 1 million tons.
At the same time, copper exports increased by 66%, while nickel imports to China more than doubled.
The outlet notes that Russian metals are no longer accepted on the London Metal Exchange and the Chicago Mercantile Exchange and are subject to specific restrictions. Against this backdrop, trade between China and Russia continues to expand.
In 2024, China became Russia’s main trading partner, with bilateral trade volume exceeding $240 billion.
Ban on Russian aluminum imports
Earlier, the European Union agreed on a phased ban on aluminum imports from Russia.
An import limit of 275,000 tons was set, which will remain in effect until February 2026.
Prior to this, European manufacturers had urged EU authorities to impose a complete ban on Russian aluminum supplies.
