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RUSAL: After LME dropped the ban on Russian metals, the company's aluminum sales rebounded
- China Aluminium Network
- Post Time: 2022/11/22
- Click Amount: 824
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【Aluminum Road Network】
On Saturday (November 19), local time, Rusal (hereinafter referred to as Rusal) said that after the London Metal Exchange (LME) decided not to ban the trading and storage of Russian metals in its system, the company's aluminum sales recovered.
LME is a long-established and large-scale industrial metals market in the world. Due to the sharp deterioration of relations between Russia and the West, the exchange once considered banning Russian metals. It consulted publicly on this issue last month and finally decided not to ban Russian metals because the market There are still a large number of people on the Internet who plan to buy Russian metals.
Rusal said: "Importantly, the decision to keep Rusal on the LME is in the best interest of our global client base. Following this decision by the LME, sales in the 2023 contract exceeded our initial forecast."
RUSAL revealed that the company has sold more than 76% of its primary aluminum and value-added products for next year. RUSAL added: “Demand for low-carbon aluminum is mainly driven by the automotive industry, and we are seeing renewed interest in low-carbon aluminum across the globe.”
As the world's second largest aluminum producer, Russia's aluminum production accounts for about 6% of the world's total production, while Rusal is Russia's primary aluminum producer, and the company's aluminum output in 2021 will be 3.76 million tons. The market expects Rusal to produce 4.2 million primary aluminum next year.
Alcoa and Norsk Hydro have called for Rusal to be banned from the LME, following speculation in the industry that many companies will avoid Russian aluminum next year after contracts expire in 2022. Source:
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