Rusal Posts 41.6% Rise in Adjusted Net Profit in H1 2024, Driven by Record China Exports and Production Growth

Published: Aug 29, 2024 16:13

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Russian aluminum giant Rusal achieved a 41.6% growth in adjusted net profit in the first half of the year, primarily due to the company's successful increase in production of aluminum, alumina, and other products, resulting in record-breaking exports to China. In addition to its domestic operations in Russia, the company also has a presence in Guinea, Jamaica, Ireland, and Sweden. Despite the impact of Western sanctions on Russia, Rusal was not among those targeted, and its deliveries to China reached an all-time high. In the first half of 2024, the company produced more primary aluminum and alumina than last year, with prices also experiencing an uptick. Although exchanges such as LME and CME have banned the import of metals produced in Russia, Rusal has maintained stable performance in both the Chinese and Russian markets. For the first half of this year, the company's adjusted net profit reached $446 million, representing an increase of approximately 41.6% over the same period last year.

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