REGIONAL ASPECTS OF ALUMINUM PRODUCTION IN THE CONTEXT OF GLOBAL TRENDS, TECHNOLOGICAL FEATURES AND ENVIRONMENTAL IMPACTS

Geoeconomic and geopolitic instability increases risks for the export led strategy, pursued by Russian companies, including for the production of aluminum, both primary and unprocessed alumina. Despite the high global demand on aluminum in various industries, its world prices are declining, which creates problems for its producers, who are faced with rising production costs. In addition, aluminum recycling is playing an increasing role under the growing environmental requirements. Furthermore, Russian aluminum producers are experiencing global economic pressure in the form of imposed sanctions, which makes it difficult not only to export product but also to import raw materials for its production. To solve that problem, it is planned to build an alumina refinery in the Leningrad region. The purpose of this article is to identify the specifics of creating alumina production in the context of global trends, its importance for the Russian economy, and taking into account the specific conditions in this particular region. For this purpose, global trends related to the growth of costs and reduction of primary aluminum production in the USA and in European countries are analyzed. High environmental risks for the economy are identified, and the inconsistency of aluminum production with regional comparative advantages is established. In conclusion the need to revise the strategy for aluminum production in Russia from export led to import substitution, aimed at satisfying primarily domestic demand, is justified.

industrial policy, export-led business, import substitution business, alumina, world aluminum market, technologies, environmental degradation, recycled aluminum, strategy of regional economic development, regional comparative advantage

Boiko I. V. Regional aspects of aluminum production in the context of global trends, technological features and environmental impacts. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;3(68):21—26. DOI: 10.25683/ VOLBI.2024.68.1025.