21 JUNE 2016<a href= http://af.reuters.com/article/metalsNews/idAFL8N19C1O3 ='_blank'> Reuters </a>
Rusal may cut capacity if aluminium falls below $1,500/T
Edited by : AL CIRCLE
1 min read
Russian aluminium giant Rusal Plc may reduce its output capacity by 200,000 tonnes if aluminium prices fall below $1,500 per tonne, Chief Executive Vladislav Soloviev was quoted as saying in a recent press meet.
Overtaken last year by China's Hongqiao as the world's top aluminium producer, Rusal has long considered a plan to reduce capacity but has never pegged it to a certain price for the metal.
The output cut could be carried out at its Kandalaksha smelter in northwestern Russia and its Novokuznetsk smelter in Siberia, Soloviev told RIA, adding that Rusal planned to keep its 2017 capital expenditure at $600 million.
Aluminium prices on the London Metal Exchange (LME) are up about 8 percent this year at $1,622 per tonne.
Overtaken last year by China's Hongqiao as the world's top aluminium producer, Rusal has long considered a plan to reduce capacity but has never pegged it to a certain price for the metal.
The output cut could be carried out at its Kandalaksha smelter in northwestern Russia and its Novokuznetsk smelter in Siberia, Soloviev told RIA, adding that Rusal planned to keep its 2017 capital expenditure at $600 million.
Aluminium prices on the London Metal Exchange (LME) are up about 8 percent this year at $1,622 per tonne.
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