
RUSAL, a leading global aluminium producer, announced its operating results for the second quarter of 2019. The company reported aluminium production of 938,000 tonnes in Q2, up 1 per cent quarter-on-quarter. Siberian smelters accounted for 93 per cent of total aluminium output.
In the first half of 2019, aluminium production stood at 1.86 million tonnes, compared with 1.87 million tonnes. This records a drop of 0.2 per cent year-on-year.
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Aluminium sales amounted to 1 million tonnes in Q2 2019, an increase of 20.8 per cent from 896,000 tonnes in Q1 2019. This was due to the partial sell down of surplus inventories of primary aluminium that were accumulated by the end of 2018 as a result of OFAC Sanctions, RUSAL said.
In the first half of 2019, aluminium sales totalled 1.97 million tonnes, up 13.2 per cent from 1.74 million tonnes in the first half of 2018.
In Q2, sales of value added products (VAP) increased 59.9 per cent QoQ to 414,000 tonnes as a result of the planned gradual recovery of VAP share in total sales mix to 38 per cent in 2Q19.
“In 2Q19, the average aluminium realized price marginally increased by 1.1% QoQ to USD1,970/t. The decrease of the London Metal Exchange (“LME”) QP component (-1.4% QoQ to USD1,824/t) was compensated by an increase of average realized premium component (+46.2% QoQ to USD146/t). The growth of premiums during 2Q19 is primarily attributed to the increase of VAP share in product sales mix,” RUSAL said through its press release.
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