Author: Paul Ploumis27 Aug 2014 Last updated at 08:18:49 GMT
MOSCOW (Scrap Monster): The mighty aluminum company, ducked from the dangerous zone, thanks to the peak of aluminum prices, cut offs in the smelter, cost reduction and in addition to that further gains are being forecasted as a result of global supply drought
Chief executive of Rusal, Oleg Deripaska stated that, this financial year gave rise to several trends, which in turn gave the global aluminum industry a huge turnover.
The company has also completed one of its crucial debts weighing 5.51 billion dollars and have no more debts left reconsider up to January 2016. The deal now gives the company an easy debt option which will allow pre pay off debt at the time of free cash flow and less payment when LME prices fall lower.
Oleg Mukhamedshin, the deputy CEO for strategy at Rusal states that, as the aluminum prices are rapidly increasing the company is expecting a faster development rather than a slower one
According to data, the net profit of Rusal in the June quarter, including a share of Norilsk Nickel’s earnings, is 129 million dollars, the company owns 28% of Norilsk.
As there was some serious cut in aluminum output, revenue fell 2.26 billion, last year that is 10%. The company expects to produce 1.8 million tons of aluminum in the second half of the year.