A significant shift in global trade patterns has emerged as China increases its purchases of Russian metals, including aluminum, copper, and nickel. According to recent trade data, these shipments have surged this year, with Beijing becoming a key buyer of Russian commodities. The overall trade between China and Russia reached historic highs last year, exceeding $240 billion.
The surge in metal imports is largely due to Western sanctions imposed on Russia amid the Ukraine conflict. The US and its allies have targeted Russian base metals to cut the country’s revenues, leading Moscow to pivot towards Asia. As a result, Chinese imports of Russian aluminum jumped nearly 56% year-on-year to almost one million tons between January and May. Copper purchases surged 66%, and nickel imports more than doubled, according to Trade Data Monitor.
Despite not being under Western sanctions, Russian producers like Rusal and Norilsk Nickel face restrictions on accessing global trading platforms. In April 2024, the US and UK barred the London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) from accepting new Russian-origin aluminum, copper, and nickel, and barred imports of these metals. The EU introduced a phased ban on Russian aluminum earlier this year, setting a 275,000-ton quota that runs through February 2026.
The Kremlin has condemned these sanctions as “illegal,” warning they will backfire on those imposing them. The measures have triggered spikes in global metal prices, with aluminum seeing its biggest surge on the LME in decades. In response, Moscow has redirected exports to Asia and the Middle East, shifting away from Western markets.
People familiar with the matter report that Norilsk Nickel began boosting sales to China in the second half of 2024. The company is also working with a unit of Chinese gold giant Shandong Gold to expand copper cathode shipments to the country. Other sanctioned producers, such as Russian Copper and UMCC, may also be shipping metal to China. Norilsk Nickel’s chief executive, Vladimir Potanin, has announced plans to relocate some copper smelting operations to China to safeguard exports from sanctions pressure on financial transactions.
As the global trade landscape continues to evolve, the surge in Chinese imports of Russian metals highlights the complexities of international relations and the impact of sanctions on global markets. The growing trade partnership between China and Russia is likely to have significant implications for the global economy, particularly in the context of the ongoing Ukraine conflict.
