EU halves import duty on aluminum

MOSCOW. May 8 - The European Union has halved its import duty on nonalloyed raw aluminium aluminum to 3% from 6% in a bid to boost deliveries from Russia.

The EU said in an official statement that the decision was reached on Monday. It said the partial suspension of the tariff would come into force "three days following its publication in the EU Official Journal, in the coming days." The duty "will be reviewed in three years in order to take into account possible future changes in the aluminium market situation," the statement said.

"The reduction of the customs duty is aimed at improving the competitiveness of EU companies and in particular of SMEs using semi- finished and finished aluminium products, whilst also taking into account the interests of European aluminium producers," the statement said.