Bowing to U.S. Sanctions, Deripaska Relinquishes Rusal’s Reins
In a move aimed at encouraging the Trump administration to ease sanctions on the firm, Russian businessman Oleg Deripaska has...
Russia
Russian Automaker AvtoVAZ Searching for Long-Term Replacement for Aluminium from Sanction-Laden Rusal
Russian Federation automotive manufacturer AvtoVAZ said late last week that, though it is remaining a customer with sanction-crippled Rusal, it is hunting for a more stable source for aluminium in the long term should sanctions remain. Nicolas Maure, who is stepping down...
Sanctions on Rusal Leading to Salary Shortages for Windalco Workers
The sanctions levied against U.C. Rusal by the United States Treasury Department last month are starting to hit home with...
Rusal’s Pre-Sanction Q1 Recurring Profit Jumped 22.4% to US$531 MM
Russian Federation aluminium smelter U.C. Rusal released first-quarter results late last week, showing solid growth in the period immediately prior...
Events
Glencore and Rusal Ask LME to Lift Suspension on Trading of Rusal’s Aluminium
Citing the Trump administration’s extension for complying with the sanctions it placed upon U.C. Rusal, Anglo-Swiss mining and trading firm Glencore plc has joined with the Russian miner in petitioning the London Metal Exchange to temporarily lift the suspension on Rusal’s aluminium. Sources revealed to Reuters on Friday that the request had been made, but […]
Rusal Kubal Aluminium Smelter’s Access to Sweden Power Market Restored
Rusal’s sole primary metal production facility outside Russia has been allowed back on to its country’s electrical energy market after being suspended last month due to the United States government’s sanctions against the aluminium firm. A one-sentence announcement upon Nord Pool AS’s website on Tuesday notified traders that Kubikenborg Aluminium AB (Kubal) reacquired its trading […]
U.S. Sanctions Not Meant to Slay Rusal: Treasury Secretary Mnuchin
Though the United States government says it isn’t trying to snuff the life from Russian aluminium giant U.C. Rusal, Treasury Secretary Steven Mnuchin says that Oleg Deripaska must relinquish his majority position in the firm before he’ll entertain the possibility of a détente. “The first aspect would be that he sells down below 50 percent,” […]
Deripaska Agrees to Leave Leadership of Sanction-Hobbled Rusal
In an effort at mollifying the powers that be in Washington, D.C., Oleg Deripaska has agreed to a significantly reduced role in the embattled Russian aluminium giant U.C. Rusal. According to a release published late last week by Rusal’s parent En+ Group, Deripaska will sell off sufficient shares to winnow down his ownership percentage from […]
Trade Minister Manturov Sees Nationalization in Cards for Rusal
The sanctions the United States government levied upon Oleg Deripaska and U.C. Rusal earlier this month have dominated the aluminium headlines, and rightly so. Though Washington, D.C. has since relaxed the sanctions, the slight reprieve is not a long-term answer to the issue, especially in the eyes of U.S. Treasury Department Secretary Steven Mnuchin. Market […]
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both businesses and policymakers to accelerate decarbonization efforts. However, with COVID-19 disrupting lives and economies in an unprecedented manner, countries across the globe ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
Aluminium of Greece (AOG): is the Pechiney spirit still alive?
Between September 24-25, FastmarketsMB organized its annual aluminium conference in Athens. A day before the conference, in accordance with an ...
