Rusal Drops in Moscow as Aluminum Prices Fall to One-Month Low

Rusal International's Controlling Shareholder En+ Said It May Consider Seperating Rusal's International Assets and Creating New Non-Russian Companies.According to the statement from En+, options included the possibility of developing the company's international business. En+ stressed that the strategic review was at a preliminary stage and that any future course of action would be subject to further consideration and discussion with relevant regulators and key stakeholders.

SHFE aluminium prices fell throughout the day on Tuesday April 24 and closed 3.7% lower as the US Treasury Department signalled it may ease the sanctions against Russian aluminium producer Rusal.

Output of 10 nonferrous metals jumped 7.2% on a yearly basis to 27.596 million tonnes in the first six months of 2017, according to askci.com.

Rumor has it Shandong will slash aluminum output by over 2 million tonnes, SMM understands.

National Statistics Institute data showed Mexico’s copper output slid on a yearly basis in April, but zinc production jumped, wenhua.com reported.

The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities rose above 900 points on Tuesday boosted by an increase in cape, panamax and supramax rates.

Goldman Sachs has reiterated its view to be overweight in commodities as an asset class. For starters, the Federal Reserve is in a monetary-tightening cycle, and this is when commodities tend to fare

On a quarterly basis, Rusal reported an increase in bauxite output, but declines in alumina and aluminum production in Q1 2017, according to its latest quarterly report.

The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities gained further to 1338 points on Wednesday led by higher panamax rate.

Societe Generale released its price forecast for base metals in 2017 on Wednesday, wenhua.com reported.