Russia: Rusal to invest $3 million in SKAD

The acting governor of Krasnoyarsk region Alexander Uss and Rusal president Vladislav Soloviev have visited one of the major Russian enterprises to produce car wheels of aluminum alloys – the Casting-Mechanical Works SKAD LLC. The company is situated in the city of Divnogorsk and has been a part of Rusal since 2017. SKAD produces over…

Russia: Rusal profit down in Q2 2018

In April-June Rusal decreased net profit by 31% QoQ, to $218 million, but increased it by 8% YoY.

In H1 net profit grew by 15% YoY, to $535 million.

Quarter revenue dropped by 18% QoQ, to $2.25 billion, but went up by 4% YoY, to $4.99 billion in H1. (Ukrainian metal)

Russia: US in fruitful talks with RUSAL on sanctions

The U.S. is holding fruitful talks with Russian aluminum giant UC RUSAL hit by sanctions in April, Bloomberg reported citing U.S. Treasury Secretary Steven Mnuchin. The U.S. did not plan to introduce sanctions against aluminum companies, Mnuchin said, adding he hoped he was holding fruitful discussions with the company to solve these problems. The U.S.…

Russia: U.S. open to lifting sanctions off Rusal

The U.S. Treasury is open to removing Russian aluminum producer Rusal from a U.S. sanctions list, Treasury Secretary Steven Mnuchin said, adding the objective was “not to put Rusal out of business”. Mnuchin’s comment was the latest indication the Trump administration was trying to aid sanctions-hit Rusal, which had taken a series of steps to…

Russia: Rusal reports exports growth despite US sanctions

In June Rusal Russian works increased exports by 49% MoM.

Thus, 294 thousand tons of aluminum were exported against 197 thousand tons in May.

In January-June aluminum exports dropped by 9% YoY, to 1.27 million tons.

Last year Rusal sold 3.95 million tons of aluminum, with Europe accounting for 42%. (Ukrainian metal)

Russia: Rusal refuses state support due to bad terms

Russian businessman Oleg Deripaska, who was included in a sanctions list by the U.S. earlier this year, has turned down the support of Promsvyazbank due to unfavorable lending conditions. Oleg Deripaska has refused state lending via Promsvyazbank. The lending conditions, offered by the state bank, including the rate, were unacceptable, sources reported. A representative of…

Russia: Rusal elects new VP

Rusal has appointed Elena Bezdenezhnykh the vice president on regional policy and cooperation with authorities. She will be managing the subdivisions responsible for cooperation with regional and federal authorities. Elena Bezdenezhnykh has been previously working with Norilsk Nickel as the vice president, state secretary since 2015. She started working in the metal industry in 1995.…

Russia: Rusal to modernize Yaroslavsky GOK

In 2019 Rusal intends to start reconstructing the capacities of the Yaroslavskaya Mining Company LLC (Yaroslavsky Mining and Processing Works), which has been idle since September 2013. Commissioning of the enterprise is scheduled for Q3 2020. “The works used to produce calcium fluoride, which cost $406 per ton, while China and Mongolia sold it much…