Rusal 0486

Re: Rusal 0486

Postby winston » Sat Sep 08, 2018 4:44 am

Aluminum Seen Facing ‘Doomsday’ If Rusal Sanctions Proceed

Market outside China is already facing shortage in supplies
Price jump would spur buyers to seek alternative materials

Workers at Alcoa Corp.’s giant alumina operations in Western Australia voted to extend their month-long strike.

An expected supply deficit for the next two to three years, rising costs from alumina and bauxite, and potential dollar weakness will push up prices.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... ns-proceed
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Re: Rusal 0486

Postby winston » Tue Sep 11, 2018 8:14 am

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Aluminum Risks Return to Crisis With Rusal Left Out in the Cold

By Mark Burton and Yuliya Fedorinova

Russian producer may need to cut aluminum output next year
Annual negotiations take place at Berlin industry gathering

Alumina, a key raw material used to make aluminum is surging back toward all-time highs.

Physical market prices for so-called value-added aluminum products supplied by Rusal are sky-high too, and buyers across the industry are racing to lock in contracts with rival producers.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... n-the-cold
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Re: Rusal 0486

Postby winston » Wed Sep 12, 2018 2:46 pm

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U.S. Sanctions May Mean A Lonely Mating Season For Rusal

With UC Rusal thus effectively barred from concluding year-long deals, over 20% of Europe’s aluminium demand is facing virtual elimination from the market.

Last year, UC Rusal supplied 6% of the world’s primary aluminium and 7% of its alumina.

“In the best-case scenario, we see a further extension for Rusal, but the U.S.-Russia relationship is highly political, so we could even see something even more severe that the market isn’t expecting.”


Source: Aluminium Insider

https://aluminiuminsider.com/u-s-sancti ... for-rusal/
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Re: Rusal 0486

Postby winston » Mon Sep 17, 2018 7:06 am

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U.S. Softens Impact of Rusal Curbs Without Lifting Sanctions

By Jack Farchy and Yuliya Fedorinova

Treasury clarification allows for some new aluminum contracts
Uncertainty remains ahead of Oct. 23 sanctions deadline

The Treasury suggested that customers could sign some new contracts with Rusal -- as long as they were consistent with their dealings with the Russian company before the sanctions were imposed in April. That’s important because many aluminum consumers have quarterly or annual contracts with Rusal that are expiring.

It also said that buyers could enter into new contracts with Rusal for periods after Oct. 23, as long as they were contingent on further action by the Treasury.


Source: Bloomberg

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

Postby winston » Tue Sep 18, 2018 6:58 am

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Rusal share price jumps after US sanctions concession
Aluminium producer given green light to sign new contracts with existing customers

by Henry Foy in Moscow

Shares in Russian aluminium producer Rusal jumped as much as 17 per cent on Monday after the US Treasury said it would allow the company to negotiate some new contracts, easing fears over its future output and raising hopes for a longer-term reprieve from sanctions. 

Some of those concerns were allayed late on Friday, when the US Treasury said in a clarification statement that it would allow Rusal to sign new supply contracts with existing customers, essentially allowing the company to continue doing business with its established partners.

Rusal’s Moscow-listed shares gained as much as 17.3 per cent by early afternoon, the best-performing stock on the Russian exchange. The shares then pared some gains to close up 14.7 per cent at Rbs26.8 ($0.39), which is still significantly below its pre-sanctions price of about Rbs40.

Friday’s clarification also allows Mr Deripaska’s other companies, including automaker GAZ Group, to sign similar contracts. 

EN+, Mr Deripaska’s London-listed holding company that owns his stake in Rusal, saw the price of its Moscow-listed depository receipts jump as much as 12 per cent.

Lord Barker’s proposal to Ofac involves Mr Deripaska reducing his stake to less than 50 per cent by temporarily transferring the shares to a Russian bank, which would then sell them on to investors after the curbs are lifted.

Source: Financial Times

https://www.ft.com/content/4058829e-ba5 ... 176fbf93f5
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Re: Rusal 0486

Postby winston » Tue Sep 18, 2018 7:09 am

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Relief for Rusal, but aluminium's political risks remain

by Andy Home

Source: Reuters

https://uk.reuters.com/article/uk-alumi ... KKCN1LX1KK
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Re: Rusal 0486

Postby winston » Thu Sep 20, 2018 8:21 am

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Minor Loosening Of U.S. Sanctions On Rusal May Have Major Repercussions

Existing customers would be permitted to negotiate new contracts after the October deadline by which the rest of the world will be liable for sanctions should they conduct business with Rusal.

Banks are likely to continue to give Rusal the cold shoulder until sanctions are at least substantially loosened.

Expected to account for a drop in sales of up to 800 thousand metric tons for the year. Rusal’s total aluminium production was 3.7 million metric tons last year.


Source: Aluminium Insider

https://aluminiuminsider.com/minor-loos ... rcussions/
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Re: Rusal 0486

Postby winston » Mon Sep 24, 2018 1:48 pm

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RUSAL Assembles CN Trading Team against US Sanctions: Rumor

RUSAL (00486.HK) +0.070 (+3.415%) is setting up a trading team in China, as U.S. sanctions are threatening its sales to Western clients, Reuters citing sources.

Purportedly, RUSAL will form a company to house the team, which will comprise a sales manager, an aluminum trader and an alumina trader.

Source: AAstocks.com
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Re: Rusal 0486

Postby winston » Mon Sep 24, 2018 3:28 pm

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U.S. sets November 12 deadline for investors to divest holdings of Rusal, EN+

WASHINGTON (Reuters) - The U.S. Treasury said on Friday it had extended until Nov. 12 a deadline for investors to divest holdings of debt, equity and other assets in sanctioned Russian companies EN+ (ENPLq.L) and Rusal (0486.HK). A deadline of Oct. 23 remained in force for divesting holdings of Gaz Group (GAZA.MM), the Treasury said.

Deadlines for investors to divest their holdings in the companies was extended to Oct. 23 in late July. The current order moves the deadline for divesting holdings in Rusal and EN+ to Nov. 12.

“EN+ and Rusal have approached the U.S. government about substantial corporate governance changes that could potentially result in significant changes in control,” the Treasury said in a statement announcing the new deadline. “To allow sufficient time for review, we are extending these licenses until Nov. 12.”

Source: Reuters

https://www.reuters.com/article/us-usa- ... SKCN1M12QZ
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Re: Rusal 0486

Postby winston » Mon Oct 15, 2018 9:31 am

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US delays start date for sanctions on Deripaska’s Rusal

The US Treasury said on Friday that it would push back until December 12 a deadline to wind up contracts and business with Rusal and its parent company EN+, from a previous date of November 12.

“EN+ and RUSAL have approached the US government about substantial corporate governance changes that could potentially result in significant changes in control. As the review of these proposals is ongoing, Office of Foreign Assets Control is extending the expiration date of related licenses until December 12,” said a Treasury spokesperson.

In August, En+ presented the final version of a plan to the US Treasury in a bid to free itself from sanctions.

Under the proposal, Mr Deripaska has agreed to reduce his holding in London-listed En+ to below 45 per cent from around 70 per cent currently, primarily through the transfer of shares to VTB, a Russian bank with close links to the Kremlin.

The plan has not yet been approved by US Treasury Secretary Steven Mnuchin.

Traders reckon the involvement in the plan of VTB — a bank that is itself under US sanctions — may raise questions in Washington.

VTB would sell the shares in the market to cover loans it has made to Mr Deripaska.

Source: Financial Times

https://www.ft.com/content/2616733e-ce2 ... ad351828ab
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