Rio Tinto set to benefit from US aluminium squeeze, executive says

Rio Tinto plc is in a position to take advantage of a current squeeze in aluminium supply in the United States, through both its Canadian smelters and other foreign supply, according to the top executive of the company's aluminium division.

Rio Tinto sees its smelter portfolio in Canada, which recently received Aluminum Stewardship Initiative (ASI) certification, meeting lofty standards for sustainability, aluminium chief executive Alf Barrios said in an interview with American Metal Market on Wednesday April 11.
Barrios confirmed on Wednesday that Rio Tinto is conducting “a thorough review” of its relationship with the companies listed in the US Department of the Treasury's sanctions against Russia – which includes Russian oligarch Oleg Deripaska and UC Rusal.
“We’re working very closely with our customers to see how we can support our customers in the months to come,” he said, noting that the company is exploring options that include expanding its primary aluminium smelting capacity in Canada and shipping aluminium from elsewhere.

Barrios affirmed that Rio Tinto has...

Published

Kirk Maltais

April 13, 2018

03:00 GMT

New York