According to an insider, Glencore and Russian Aluminum have decided to extend the aluminum supply contract to 2025. According to the contract, the two companies have delivered more than 1 million tons of aluminum each year since 2020. However, from the second half of 2023, the actual shipment volume of Russian Aluminum was only a small part of the contract. According to regulatory documents, during the past four-year contract period, Glencore purchased about one-third of the 5.24 million tons of aluminum. Glencore agreed to continue the sales-based contract, and the extension of the contract means that Russian Aluminum will compensate for the part that failed to deliver on time.
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