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08 FEBRUARY 2019 AL CIRCLE

Rusal's aluminium production records 1.3% growth in 2018

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

The world’s second largest aluminium company by primary production output - Rusal once again proves its potential by recording a year-on-year growth in aluminium production in 2018. Even after going through critical conditions led by United States sanctions, the Russian aluminium giant produced 1.3 per cent more aluminium totalling 3.753 million tonnes in the noted year.

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Per the report, Rusal’s aluminium production in the fourth quarter of 2018 increased in comparison with the third quarter by 0.4 per cent to 943,000 tonnes.

Last year, although the average aluminium price went up by 7.3 per cent to US$ 2,259 per tonne, the price in the fourth quarter lowered 7 per cent to US$2,115 per tonne.

The London Metal Exchange (LME) said in a statement last month that the LME lifted restrictions on warranting Rusal-branded metal after the United States removed sanctions on the Russian aluminium giant.

On Friday, Rusal shared its expectations for 2019 as well. According to the firm, 2019 will continue to see demand growth for aluminium with potential price rise.

In a filing, the Hong Kong-listed company also said the market for alumina is expected to be more balanced, according to Reuters report.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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