SHANGHAI, Jul. 30 (SMM) – Rusal has no intention of restarting aluminum smelters idled in 2013 and sees its aluminum output this year to be flat with 2014, it said in its quarterly report.
The aluminum giant produced 908,000 tonnes of aluminum in Q2, up 0.8% quarter-on-quarter (QoQ) and 1.1% year-on-year. However, its aluminum sales fell 5.1% QoQ to 880,000 tonnes in Q2. It attributes the decline to higher-than-normal sales in Q1 2015.
The average price fell 7.7% QoQ to $ 2,124 per tonne in Q2, due to lower LME cash prices and falling physical premiums across key export markets.
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