US ali mart says OFAC move signals Rusal deal

The aluminium market in the United States is viewing the latest extension of general licenses related to UC Rusal Plc as a sign that a deal with the Russian aluminium producer is impending.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) said on Friday September 21 that is was extending the expiration date of the general licenses until November 12 from October 23. “The market has been anticipating a significant relaxation or outright removal of the Rusal sanctions order and it looks like that is what is going to happen,” John Mothersole, director of research, pricing and purchasing service at London-based IHS Markit, told American Metal Market on Monday September 24. According to the OFAC notice, Rusal and parent company EN+ Group approached the US government regarding substantial corporate governance changes that could potentially...

Published

Kirk Maltais

September 24, 2018

22:29 GMT

New York