Australia supplies almost 20% of Russia’s alumina.

Australia has imposed an immediate ban on exports of alumina and aluminum ores, including bauxite, to Russia.

Joining forces will improve the resiliency of the raw materials supply chain in the wake of disruptions, the companies said.

Prices of materials like crude, gas, wheat and metals have become alarmingly erratic as a gulf emerges between buyers and sellers who are facing big financing strains.

The government has asked steel, nickel and aluminum producers to maintain low prices at home.

Rusal, which is not under sanctions by the US, runs a bauxite and alumina production complex in Jamaica.

The European Union excluded aluminum, copper and nickel from its latest set of trade restrictions on Russia.

Nikolaev alumina plant shut because of conflict in Ukraine.