Russian aluminum producer Rusal reported a 4.6% increase in sales in the second quarter to 1.0 million tonnes and a 22 percent jump in average aluminum prices to $ 2.087 per tonne.
On the London Stock Exchange, aluminum prices are up 15 percent this year on stronger demand and expectations that China's largest producer will cut production over the winter as Beijing intensifies its war on polluting production.
“The main drivers of demand for aluminum were rising consumer spending, in particular for cars, sales of durable goods, and investment in fixed assets,” Rusal, the world's second-largest aluminum producer behind China's Hongqiao, said in a statement.
According to Rusal's forecast, global demand for aluminum in the first half of the year increased by 5.7% compared to the same period last year and amounted to 31.7 million tons, while world demand was 31.8 million tons and an increase of 11.5%.
Aluminum demand in India rose 3.5% to 14.7 million tonnes, while production rose 2.3% to 13.5 million tonnes.
In the second quarter, Rusal's aluminum production was 921,000 tonnes, up 0.2 percent from the previous year and 1.2 percent from the previous quarter.
Rusal shares rose 3.1% in Hong Kong on Thursday, outpacing the 0.8% benchmark gain. Rusal plans to publish its full financial results for the second quarter on August 25.
Rusal boosts aluminum sales in the second quarter
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Azovpromstal® 28 July 2017 г. 12:15 |
