Rusal Swings to Profit in Q1 on Higher Aluminum Prices, Cost Control

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.

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.

Rusal announced recently that its aluminum output and sales both increased during the first nine months of this year.

Rusal has entered into an agreement to sell 100% stake in its Alumina Partners of Jamaica (Alpart) to the Chinese state-owned industrial group, Jiuquan Iron & Steel (Group) Co. Ltd. (JISCO).

United Co. Rusal, the global aluminum major has reported 26% decline in profits during the third quarter of the year.

Chinese aluminum smelters will cut output, should aluminum prices remain low for a long time, www.steelhome.cn reported, citing Rusal President Oleg Djeripaska.

Some have blamed China’s economic slowdown for slump in global aluminum prices, which have fallen to the lowest since July 2009.

The Russian aluminum major-Rusal's aluminum output during the entire year 2014 dropped significantly by over 7% in 2014 to touch the lowest levels since the company's merger with Sual in 2007.