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Rusal aluminum output cuts

5 July 2013

According to a recent statement of top management Corporation «Rusal», Siberian factories organizations to reduce aluminum output by 100 thousand. Tonnes. «This decision was due to the fact that since the beginning of this year, metal prices have decreased by 20%, while the world market — in spite of it — continues to suffer from oversupply," — commented the representatives of the corporation. In general, «Russian Aluminium» — according to the company's management — taking into account all previous and future reductions in output can trim the issue of «winged metal» by 300 thousand tons.

According to Vladislav Soloviev, First Deputy General Director of «Rusal», the proposed guidance measure settlement with a surplus of aluminum on the market for the first time it will affect not only plants with obsolete equipment, located in the west of Russia, but also affect a relatively new Siberian enterprises. However, while the corporation does not disclose the names of specific assets, which will be reviewed by metal production. Meanwhile, only for the first quarter of 2013 production of aluminum enterprises, «Rusal» has already been cut by 47 thous. Tons.

«Initially, at this stage of aluminum production by plants in Siberia it was planned to decrease by only 50 thousand tons.» — Commented the representatives of «Rusal». «But now, referring to the disappointing market forecasts, the East Division will have to cut production by 100 thous. Tons. The decision has already been made — the program has already passed the approval of the Board of Directors. However, the corporation still binds their strategic plans for the development of production is with eastern plants «- sums up his views on the company's management strategy.

Based out of the market situation, «Rusal» has suspended construction of the Taishet aluminum smelter (including — the anode factory at its base). Temporarily halted all «long» on the development of projects (in addition to other programs, delayed time putting into operation of electrolytic cells operating at «PA-500» technology). «Now they come to life only the most important modernization projects, the payback period which is less than a year, as well as supported existing technological capacity» — describe an event representatives of the corporation.

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