UK to restrict its imports of Russian aluminium, copper & nickel

The United Kingdom has been a crucial importer of Russian copper, nickel, diamonds and aluminium over the last few years. But now due to pressure from the west over the Russia-Ukraine crisis, the UK is planning to impose a ban on Russian copper, aluminium, nickel and diamonds imports.

UK import data shows that the country's copper imports were estimated to be $2.3 billion during fiscal year 2022. These mostly came from Ireland, South Africa, Mexico and Canada. Whereas, Refined copper imports were mostly from Belgium having over 90% share. Whereas, Russia has exported over 12 million dollars worth of copper to the United Kingdom. 

In terms of aluminium imports, UK imports have declined by 39% in FY 2022. UK import export data shows that Russia has exported over 12,000 tonnes of aluminium to the UK worth over $35 million. Although, it was $32 million in FY 2021. 

In terms of overall aluminium imports of UK, South Africa contributed to over 75% share followed by United Arab Emirates and Iceland. Although, this year, the UK has hardly made any import shipment from Russia this year. 

According to the UK customs data, the UK's overall refined nickel imports were around 9000 tonnes during FY 2022. Australia, Norway and Finland had the majority of the share of the UK's nickel imports. Whereas, there is no shipment record found for Russia in FY 2023. 

Whereas, last year Russia exported over $26 million worth of nickel to the UK with shipments volume of 1124 tonnes. In terms of diamonds, Russia export data reflects that around $4 million worth of diamonds were exported to the UK last year. But this year, there are no shipments made.

Although, the UK is a vital importer of diamonds. It is drawn from the fact that over $1.7 billion worth of diamonds were imported in the United Kingdom. These imports were mostly from Belgium, India, the United States and Israel. On the other hand, UK export data shows that UK’s key exports Russia includes motor cars, medicaments, gas turbines, electrical devices, and scrap metals.

The metals and minerals import export companies from the UK can now trust the market intelligence provided by the global import export data reports. They can now shift towards the data driven approach in order to achieve their company. Those who are actively looking to find the buyers and suppliers for their products, can utilize these trade data reports. 

It is the simplest way to find country and product wise imports, exports, price, quantity, buyer, supplier, ports volume, competitive analysis and latest trends & risks involved in the business. Exim Trade Data, a leading global import export data provider firm is offering an impressive market research tool, Exim GTIS.

Through this platform, you can discover all historical records of UK imports and exports of aluminium, copper, nickel and diamonds from different countries. It could enhance your market research and help you make better market decisions on pricing, production quantity and identify potential clients. It is the modern business approach that companies are referring to. It's a high time to switch into a data based market approach in order to excel your import export business.