RUSAL's alumina production volume increases in Q3 and 9 months ended Sept 30

UC RUSAL, a leading global aluminium producer, today announced its results for the three and nine months ended 30 September 2016. Total alumina production volume (unaudited) for three months ended 30th September totalled at 1,865 thousand tonnes down from 1,870 thousand tonnes in the same period previous year. The output also marked a 0.3 per cent increase from the last quarter of the current financial year when the figure as at 1,851 thousand tonnes.

For the nine months ended 30th September of the current financial year, total alumina output volume is estimated at 5,589 thousand tonnes, up 1.7 per cent from the corresponding previous year when the output was 5,496 tonnes.

Rusal recorded alumina price of US$234/tonne for the three months ended 30th September 2016, up 20.4 per cent from the last quarter of the current fiscal. The price for the nine months ended September 30, 2016 was US$236/tonne, up 27.6 per cent from the corresponding period last year.

During the period under review, Chinese aluminium smelting costs continue to be under strong pressure from rising power, alumina and logistic costs. Alumina prices in China entered an upward trajectory in the beginning of this year, increasing by above 50 per cent in October since January 2016.

Total sales of alumina for three months ended September 30, was valued at US$157 million/kt (+6.8 per cent QoQ). Rusal also recorded an increased sales value of alumina for the nine months ended September 30, 2016. The figure stood at US$458 million/kt (1.6 per cent YoY).

Commenting on the 2016 third quarter results, Vladislav Soloviev, CEO of RUSAL, said: “In Q3 2016, RUSAL reported robust financial results thanks to the Company’s commitment to operational efficiency and cost discipline, supported by stronger LME prices. Adjusted EBITDA grew by 22.4% quarter-on-quarter to USD421 million while Recurring Net Profit for the period reached USD327 million, up 18.5% quarter-on-quarter."

"RUSAL continues to focus on the higher value end of the upstream business through implementing improvements to our smelters."

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