Leading Russian aluminium producer RUSAL is considering mothballing four alumina and bauxite facilities as the company faces combined annual losses of around USD 800 million. The move hints at the growing pressure on the economics of domestic raw-material production. RUSAL is also estimating losses...
Alumina exports from RUSAL’s Friguia refinery in Guinea have been halted after a train carrying the material derailed over the weekend, disrupting rail access to the plant and forcing production to slow, three sources told Reuters. The train, operated by Russian aluminium producer RUSAL RUAL.MM,...
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The US Treasury Department announced on Sunday, January 27, that it removed sanctions on Rusal, the Russian energy giant that owns Aughinish Alumina in Limerick, in a move welcomed by the Irish Government. In December, the US Treasury had announced its intention to remove the sanctions against...
(Continued from Part I ) LME/SME price trends An analysis of the LME and SME price trends in H1, H2 and the whole year 2018 will give us an idea about how the prices were impacted by the events in the aluminium supply scenario. As the sanctions hit the market in April and LME prices were pushed...
The year 2018 has seen the highest and lowest in terms of aluminium price growth and production of primary aluminium is estimated to be slightly higher (about 1.3%) in comparison to 2017. The year was marked by supply uncertainty in alumina and aluminium which pushed the prices higher in the first...
The US Senate’s failure to block the easing of Rusal sanctions is expected to reduce the pressure on an Armenian aluminium mill, reported the Armenian National Committee of America (ANCA). This brings relief to 700 employees of the Armenal mill in Yerevan and thousands of local families supported...
The US Senate reportedly failed in its attempt on Wednesday evening, January 16, to block the agreement to lift sanctions against Rusal, the parent company of Aughinish Alumina. With this arrived an immense relief among nearly 400 Aughinish workers in Limerick. The news came when a junior minister...
A vote will be reportedly held today, on January 16, on a move to block the lifting of sanctions affecting Aughinish Alumina in Limerick. Per the report, 11 Republican senators went against their own party and joined hands with Democrats to allow the vote to proceed. In December, the US Treasury...
According to a Reuters report, the London Metal Exchange (LME) confirmed that it would lift its suspension on aluminium produced by Russia’s Rusal once the U.S. lifts the sanctions on the company. The exchange said in a statement that consultation with LME consumers had not raised any objections to...
Growing consumer demand towards lightweight automobile vehicles has been incessantly stimulating the aluminium wire market demand over the years. So to say, aluminium wire market size is set to surpass US$ 65 billion by 2024, according to a new research report by Global Market Insights Inc....
Russian aluminium company Rusal said on Friday that Mr. Jean-Pierre Thomas, an independent non-executive director of the Company, has been appointed as the chairman of the Company with effect from 1 January 2019. The previous chairman, Matthias Warnig, resigned from his post earlier this week after...
Following the board restructuring agreement for receiving release from US sanctions, Russian aluminium giant Rusal’s board chairman Mattias Warnig resigned from his post, as per the report from Reuters. The news came after Rusal officially announced on Wednesday, December 26. The US Treasury said...
The US Treasury announced on Wednesday, December 19, about its intention to remove sanctions against Oleg Deripaska-owned Rusal, which is the parent company of the Aughinish Alumina plant in Limerick. The Irish foreign ministry said in a statement that the Aughinish Alumina plant would be free from...
According to the latest update from the market, LME aluminium prices plunged to a 16-month low in early Asian trade on Thursday after the United States said it would withdraw sanctions on UC Rusal. The dollar came off its lows but remained weaker on Wednesday anticipating fewer interest rate hikes...
Ireland’s Finance Minister Paschal O’Donohue met US Treasury Secretary Steve Mnuchin in Washington to discuss the future of Aughinish Alumina, which was put into uncertainty after the U.S. sanctions on Rusal. “He was going with a very simple message that it (Aughinish) was of strategic importance...
Vigeo Eiris which rates global companies with the most advanced practice in sustainable development has listed UC RUSAL, one of the leading global aluminium producers, among the top 100 Best Emerging Markets performers. Vigeo Eiris is one of the largest international rating agencies that reviews...
A government decree showed on Wednesday, November 28, that the Russian government may buy up to 50,000 tonnes of aluminium for the state reserve as a move to support sanctioned Russian aluminium giant UC Rusal. The decree, dated November 26, allocated up to 10 billion roubles or US$ 149 million for...
The International Monetary Fund (IMF) is indicating emerging fiscal risks for Jamaica, especially in the bauxite and energy sectors. The organization suggests careful handling of the risks as they might affect the undergoing economic programme in the country. IMF’s latest review of Jamaica's...
The US dollar rose against most major currencies on Friday and settled at 96.88. Major Base metals fell across the board as LME aluminium declined 1.31% last week. LME aluminium closed at US$ 1964.5 per tonne on Friday November 9, down from US$ 1977 per tonne on Thursday November 8. LME aluminium...
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has once again extended the expiration date of certain general licenses related to EN+ Group plc (EN+), United Company RUSAL PLC (RUSAL), and GAZ Group (GAZ) until January 7, 2019. The U.S. Department of the Treasury’s...
