Japanese auto component manufacturers have begun negotiations with the Russian concern "Rusal" on the supply of aluminum due to supply disruptions in the Middle East. Bloomberg reports this, citing sources.
Companies have been discussing the purchase of basic foundry alloys for about a week and expect to close some deals in the near future.
The reason was the crisis in the Persian Gulf and the disruption of logistics through the Strait of Hormuz, a key route for raw materials and cargo supplies. The region accounts for about 10% of global aluminum.
According to the agency, South Korean auto parts suppliers have also joined the dialogue with the Russian company. Rusal declined to comment on the situation.
