Rusal strongly refutes the recent reports on planning large-scale deliveries to LME warehouses

The world's leading aluminium producer Rusal, further to a recent media report, refutes in the strongest terms any suggestion that it is planning to deliver large quantities of metal on the LME, in Europe, the U.S. or any other location.

Rusal also commented that the statements otherwise are highly speculative and irresponsible. The company's sales book is solid and does not need to deliver metal to LME warehouses. The Russian aluminium giant also notes the alarmist views expressed by other interested parties that it is damaging to the industry's confidence as a whole.

Rusal stated, “We want to point out that there is no basis upon which to take any action regarding the warrantability of RUSAL's metal, and any decision otherwise could have long-lasting adverse effects on the market, increase the likelihood of a disproportionate concentration of specific non-Russian origin metal on the exchange, leading to increased volatility of both prices and premiums.”

“Over half of RUSAL's production portfolio are customized value-added products. Our customers, directly and indirectly, may be affected by unfriendly actions and potential price distortion.”

The company added, "The low-carbon aluminium produced by Rusal is a metal of choice for the global aluminium market. It will continue to be the preferred metal behind intensifying decarbonization efforts. The continued presence of Rusal and its metal within the LME ecosystem significantly stabilises the market since the most global aluminium industry has not rejected our brands."