Rusal sales volumes increase in Q4, FY 2019; warns of bearish coronavirus effects on market

Rusal’s aluminium sales volumes rose in the fourth quarter and year ended December 31 2019, but novel coronavirus-related effects on the economy could be bearish for the aluminium market, the company warned.

The Russian aluminium producer sold 1.1 million tonnes of aluminium in the fourth quarter, up 1.5% from the previous quarter, while full-year sales volumes increased by 13.8% to 4.2 million tonnes, compared with 3.7 million tonnes in 2018.
“This growth was primarily due to partial sell-down of surplus inventories of primary aluminium that were accumulated by the end of 2018 as a result of OFAC Sanctions and full launch of the first potline of the Boguchansky aluminium smelter (BoAZ) in March 2019,” the company said.

Rusal also sold 443,000 tonnes of value-added products in the fourth quarter, up 3.1% from 430,000 tonnes in the previous quarter, but total sales in 2019 were down 7% year on year at 1.5 million tonnes.
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Published

Justin Yang

February 28, 2020

14:31 GMT

London