Rusal Stock Soared 13%, LME Aluminium Broke through $4,020/mt.

Published: Mar 7, 2022 16:46

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Rusal opened nearly 4% higher in early trading today, and then the stock price surged more than 13%.

SHANGHAI, Mar 7 (SMM) – Rusal opened nearly 4% higher in early trading today, and then the stock price surged more than 13%.

As of 3:30 pm on March 7, it rose more than 34%.

The CEO of Alcoa told investors that the company was considering how to handle aluminium sales to Russian companies last Tuesday.

Russia is one of the world's largest suppliers of aluminium, and U.S. sanctions have so far not targeted Rusal.

The Biden administration is now delaying direct sanctions on Rusal because it could disrupt global aluminium supplies that are already in short supply, according to an insider.

According to overseas media, Rusal's parent company En+ confirmed that it is exploring the spin-off of Rusal's international business.

Aluminium prices have continued to rise recently. LME aluminium rose by 4.2% today, breaking through $4,020/mt, setting a new record high.

Rusal aluminium

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