Rusal is expanding its trade team as US sanctions threaten Rusal's sales source-Shanghai Metals Market

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Rusal is expanding its trade team as US sanctions threaten Rusal's sales source

Translation 10:56:22AM Sep 25, 2018 Source:SMM

SMM, Sept. 25: Rusal is setting up a trade team in China, three people familiar with the matter said. The shadow of US sanctions hangs over Rusal's sales in the West. Rusal is forming a trading company to accommodate the team, including a sales manager, an aluminium trader and an alumina trader, according to sources. Rusal will be responsible for the team's aluminum trade in China.

The new company will also set up analyst positions in Beijing after Rusal earlier considered a Shanghai listing, the source added. Rusal declined to comment on Friday.

Sources familiar with the negotiations told Reuters earlier this month that European customers were generally avoiding a 2019 metal supply deal with Rusal. China is the world's largest consumer of aluminium and a potentially lucrative market for Rusal. However, China is also the world's largest producer of aluminium, meaning its enthusiasm for foreign aluminium is limited.

China imported only 14631 tons of raw aluminum from Russia in 2017, according to Chinese customs data.

(Rusal), a Russian aluminum company listed in Hong Kong, has set up a representative office in Beijing. But the company had previously traded in mainland China through (Shenzhen United Aluminium Co), a joint venture with China Northern Industry Corporation (Norinco) in Guangdong.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)

Key Words:  Rusal  China  Trade  Import and Export  Aluminum 

Rusal is expanding its trade team as US sanctions threaten Rusal's sales source

Translation 10:56:22AM Sep 25, 2018 Source:SMM

SMM, Sept. 25: Rusal is setting up a trade team in China, three people familiar with the matter said. The shadow of US sanctions hangs over Rusal's sales in the West. Rusal is forming a trading company to accommodate the team, including a sales manager, an aluminium trader and an alumina trader, according to sources. Rusal will be responsible for the team's aluminum trade in China.

The new company will also set up analyst positions in Beijing after Rusal earlier considered a Shanghai listing, the source added. Rusal declined to comment on Friday.

Sources familiar with the negotiations told Reuters earlier this month that European customers were generally avoiding a 2019 metal supply deal with Rusal. China is the world's largest consumer of aluminium and a potentially lucrative market for Rusal. However, China is also the world's largest producer of aluminium, meaning its enthusiasm for foreign aluminium is limited.

China imported only 14631 tons of raw aluminum from Russia in 2017, according to Chinese customs data.

(Rusal), a Russian aluminum company listed in Hong Kong, has set up a representative office in Beijing. But the company had previously traded in mainland China through (Shenzhen United Aluminium Co), a joint venture with China Northern Industry Corporation (Norinco) in Guangdong.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)

Key Words:  Rusal  China  Trade  Import and Export  Aluminum