Statement from RUSAL following recent media reports

Further to recent media reports, RUSAL refutes in the strongest terms any suggestion that it is planning to deliver large quantities of metal on the LME, in Europe, the U.S. or any other location. Statements otherwise are highly speculative and irresponsible. RUSAL’s sales book is solid, and the company has no need to deliver metal to LME warehouses.

RUSAL also notes the alarmist views expressed by other interested parties that we regard as being damaging to the confidence within industry as a whole. We would like to point out that there is no basis upon which to take any action regarding warrantability of RUSAL’s metal, and any decision otherwise could have long-lasting negative effects on the market, increase the likelihood of a disproportionate concentration of certain non-Russian origin metal on exchange, leading to increased volatility of both prices and premiums. Over half of RUSAL’s production portfolio are customized value-added products. Our customers directly and indirectly may be affected by unfriendly actions and potential price distortion.  

RUSAL’s low carbon aluminium is a metal of choice for the global aluminium market and will continue to be the preferred metal on the back of intensifying decarbonisation efforts. The continued presence of RUSAL and its metal within the LME ecosystem has an important stabilizing effect on the market, since the vast majority of the global aluminium industry has not rejected our brands.
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