Rusal 0486

Re: Rusal 0486

Postby winston » Fri Apr 20, 2018 11:53 am

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RUSAL Delisting Application of Depositary Receipts from Euronext Terminated

RUSAL(00486.HK) announced that the delisting application of global depositary receipts from Euronext Paris has been terminated, as CACEIS Corporate Trust has ceased to provide service as the centralizing broker in an orderly sale procedure.

Source: AAStocks Financial News
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Re: Rusal 0486

Postby winston » Fri Apr 20, 2018 2:17 pm

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Exclusive: Unsold aluminum piling up at sanctions-hit Rusal factory

by Polina Ivanova

While shipments have stalled, Rusal cannot readily reduce its production of aluminum because the electrolysis pots that are at the heart of the manufacturing process can be irreparably damaged if they are shut down.

“The storage is not quite full”. “Something is still being loaded all the same, some stuff is being shipped.”


Source: Reuters

https://www.reuters.com/article/us-usa- ... SKBN1HQ1H6
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Re: Rusal 0486

Postby winston » Mon Apr 23, 2018 1:50 pm

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Sanctions on UC Rusal Hit Shipping

The Rusal-owned Bauxite Company of Guyana Incorporated (BCGI) extracts aluminum ore in Guyana, and Oldendorff handles its cargoes. Due to sanctions on Rusal, Oldendorff can no longer do business with BCGI.

Maersk and MSC, the two largest ocean carriers, have announced that they will no longer conduct new trade with any of the Russian entities covered by the sanctions, including Rusal.

Aluminum up 30 percent in two weeks.




Source: The Maritime Executive

https://www.maritime-executive.com/arti ... gs.UarTxAs
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Re: Rusal 0486

Postby winston » Mon Apr 23, 2018 1:56 pm

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Rusal May Lose Aluminum Sales From Arconic, Ball in Russia

American-owned plants buy more than 25% of Russian aluminum
U.S. sanctions will prevent companies buying from Rusal

American manufacturing companies Arconic Inc. and Ball Corp. have a major presence in Russia, controlling more than a quarter of the country’s aluminum usage.

Rusal sells 20 percent of its aluminum in Russia.

The American plants may have to switch to imported material, he said. Another option is that the companies could get a U.S. Treasury license to keep buying aluminum from Rusal, according to Chuyko. He added that if there’s no solution, the U.S. companies would need to sell the Russian plants.

Russia is also weighing new legislation, which would allow criminal prosecution for companies in Russia that obey U.S. sanctions.

Arconic and Ball run four plants in Russia that buy more than 200,000 metric tons of aluminum from Rusal per year.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... -in-russia
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Re: Rusal 0486

Postby winston » Mon Apr 23, 2018 2:01 pm

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Aluminium and nickel gain amid fallout from US sanctions on Rusal

APR 23, 2018

Alcoa Corp projected a wider global deficit of aluminium this year amid delays in Chinese plant expansions.

The market for alumina, the main ingredient in aluminium, is also set to swing into deficit as a giant plant in Brazil operates at a reduced rate.

On Friday, Russian Finance Minister Anton Siluanov told reporters in Washington that his government doesn't plan to nationalise Rusal.


Source: Financial Times

https://www.businesstimes.com.sg/energy ... s-on-rusal
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Re: Rusal 0486

Postby winston » Mon Apr 23, 2018 3:42 pm

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New U.S. Sanctions on Russia Make It Personal

On April 13, the lower house of the Russian parliament, the Duma, introduced a bill to restrict imports of American-made goods, including agricultural products, software, medicine, alcohol and tobacco.

The legislation also proposed a ban on U.S. participation in Russian privatization deals and on titanium sales to American aerospace business Boeing Co.

Lawmakers convened April 16 in an extraordinary session to review the bill and have scheduled a first reading for May 15.

Tensions already have flared between Moscow and Washington this month over the war in Syria, where U.S. cruise missile launches have met with threats from Russia to shoot the projectiles down.

At the same time, the fighting in eastern Ukraine has also intensified.

As the United States beefs up its sanctions on Russian entities, Moscow could retaliate with asymmetric responses in these conflicts, creating political and security consequences Washington likely didn't intend, while also deepening Russia's economic isolation from the West.


Source: Stratfor

https://worldview.stratfor.com/article/ ... -deripaska
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Re: Rusal 0486

Postby winston » Tue Apr 24, 2018 7:50 am

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US softens stance on Rusal sanctions, aluminum prices tumble

LONDON: The US softened its position on sanctions against Russia’s United Co Rusal, sparking a plunge in aluminum prices.

The US Treasury said it would provide sanctions relief to Rusal if Oleg Deripaska relinquished control, according to statement on Monday.

It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months.

Aluminum plunged as much as 8.3% after the news, the biggest intraday drop since 2005.

Rusal produces about 6% of the world’s aluminum and operates mines, smelters and refineries across the world from Guinea to Ireland, Russia to Jamaica.

Washington’s softening of its stance follows two weeks of chaos on global metals markets, after the sanctions triggered a surge in aluminum prices to multi-year highs and fears of shutdowns at Rusal plants.

A German lobbying group said last week that European plants may be forced to close and carmakers could face supply shortages.

“If it wasn’t previously clear if Rusal will still be sanctioned in case if Deripaska sells out, now we have a clear answer,” Oleg Petropavlovskiy, an analyst at BCS Global Markets, said by phone. “Changing the ownership structure would be a solution.”

In a separate statement, Treasury Secretary Steven Mnuchin said the US is considering a petition from Rusal to remove it from the sanctions list.

“Rusal has felt the impact of U.S. sanctions because of its entanglement with Oleg Deripaska, but the US government is not targeting the hardworking people who depend on Rusal and its subsidiaries,” he added.

The US statement will add pressure on the aluminum magnate as he seeks a way to save his company without surrendering control.

While analysts have suggested that nationalization may be the only solution, Finance Minister Anton Siluanov told reporters Friday that Rusal was not on the list to be nationalized.

The sell-off in aluminum after the Treasury announcement spread through other commodity markets on optimism the US isn’t likely to impose further sanctions on Russia’s metals and energy companies.

Palladium plunged by as much as 4.2% and nickel as much 5.7%. They had both jumped over the last two weeks because of concern that Vladimir Potanin, the billionaire who controls Russia’s biggest miner Norilsk Nickel PJSC, could be targeted.

Oil also dropped, losing as much as much as 1.3% to trade at US$73.13 in London.

Source: Bloomberg

https://www.thestar.com.my/business/bus ... DPXbG0K.99
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Re: Rusal 0486

Postby winston » Tue Apr 24, 2018 11:09 am

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U.S. extends deadline for Rusal sanctions, aluminum prices dive

by Susan Heavey, Polina Devitt

WASHINGTON/MOSCOW (Reuters) - The United States on Monday gave American customers of Russia’s biggest aluminum producer more time to comply with sanctions, and said it would consider lifting them if United Company Rusal Plc’s major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company.

Aluminum prices on the London Metal Exchange tumbled 8.7 percent on the U.S. Treasury Department announcement, which gives Rusal longer to sell off large quantities of aluminum it had been stockpiling in the wake of sanctions.

Treasury gave Americans until Oct. 23 instead of June 5 to wind down business with Rusal. It said it would not impose secondary sanctions on non-U.S. entities engaged with Rusal or its subsidiaries.

Source: Reuters
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Re: Rusal 0486

Postby winston » Tue Apr 24, 2018 1:57 pm

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<Research Report>G Sachs: US Treasury Postponed Sanction on RUSAL (00486.HK) In Line; Aluminum Prices Stay Uncertain

Goldman Sachs mentioned in its report that the US Treasury Department extended the deadline for winding down business with RUSAL (00486.HK) to October 23.

Given 6% of global aluminum supply is from RUSAL, its outsized impact on the market is significant.

While downside risks are currently seen in the aluminum price forecast, uncertainties may remain in the near term and the 3-month aluminum price forecast of US$2500/t remains unchanged.

On the whole, the broker believed the impact of the Russian sanctions and Alunorte disruptions should gradually fade by end-2018.

12-month forecast for LME aluminum prices remains at US$2000/t, similar to the annual average levels last year.

Source: AAStocks Financial News
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Re: Rusal 0486

Postby winston » Tue Apr 24, 2018 2:39 pm

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Rusal shares surge in Hong Kong after US eases sanctions stance

Shares in Russian aluminum giant Rusal soared by a third in Hong Kong today after the US Treasury said it would consider lifting sanctions if tycoon Oleg Deripaska gives up control of the company.

The Hong Kong-listed firm soared 33% to HK$2.08 at one point in early trading.

Rusal is the parent company of Aughinish Alumina in Co Limerick. The Askeaton company refines imported bauxite into alumina which is a major ingredient in the manufacturing of aluminium.

US President Donald Trump on April 6 imposed restrictions on Russian oligarchs close to President Vladimir Putin following the diplomatic crisis sparked by the poisoning of former spy Sergei Skripal.

Washington accused Deripaska of operating for the Russian government. Other magnates hit by sanctions include the director of state-owned energy giant Gazprom, Alexei Miller.

The announcement saw Rusal's share price collapse by about two-thirds over the next week, wiping billions of dollars off its markets capitalisation on fears about its ability to service huge debt obligations.

However, the US Treasury said it could lift the measures "through divestment and relinquishment of control of Rusal by Oleg Deripaska".

It also said it would give companies more time to comply with the sanctions.

Aluminium prices sank more than 7% on the London Metals exchange, having soared to seven-year highs in response to the measures.

Rusal accounts for about 7% of the world's aluminum production.

Other metals including gold, nickel and palladium also fell sharply.

Deripaska is seen as close to Putin, and also had dealings with Paul Manafort, the former chairman of President Trump's election campaign who is under federal indictment in part over those dealings.

Source: RTE

https://www.rte.ie/news/business/2018/0 ... al-shares/
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