Glencore will resume buying aluminum from Rusal in 2019, but the volumes will decrease considerably, as the Russian company wants to take advantage of the growing demand for high added value products.
Volumes are expected to decrease by 25-50% from 14.5 million tons. The deal concluded in 2012 was estimated at $47 billion. The new agreement will most likely be concluded for several years, but the terms have not been settled yet.
Glencore owns 8.75% in Rusal.
The high added value products output has increased lately to 47% of the total production from 40% in 2012.
Rusal intends to increase its high added value products sales to 50-52% this year and to 60% by 2021, by investing in its works in Krasnoyarsk and Khakasia. (Ukrainian metal)
