SMM5, 15 March: although in January the US Treasury lifted its (United Co. of Rusal since April 2018, according to Bloomberg. Sanctions imposed by Rusal). But Rusal's first-quarter results showed that the company's profits were still affected.

Rusal made a profit of $226 million before interest and depreciation before amortization in the first quarter of this year, compared with $572 million in the same period last year and $363 million in the fourth quarter of last year. Revenue also fell 21 per cent from a year earlier to $2.17 billion.

In the first quarter of this year, Rusal value-added products accounted for 29 per cent of total production of 259000 tons

In terms of market layout, the US market accounted for 5 per cent of Rusal's total sales in the first quarter of this year, down from 18 per cent last year. But the share of the European market rose, accounting for 53% of Rusal's total sales, up from 41% last year.

Although first-quarter profits were not satisfactory, Rusal had expected a persistent supply shortage of 1-1.4 million tons in 2019, while demand for aluminium would accelerate 3.7 per cent to 68 million tons in 2019. As a result, a shortage of supply and strong demand could push up aluminium prices. "related reports-Rusal: aluminium demand will grow by 3.7 per cent in 2019 and there will be a supply shortage of $10-1.4 million

(note: this article is translated from Bloomberg. If you are concerned with copyright issues, please contact SMM. We will deal with them in a timely manner.)

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