Statement from RUSAL following recent media reports

RUSAL has noted an article published on November 3rd by Reuters regarding actions by one of its competitors, clearly for their own benefit, who are seeking a boycott of Russian metal on the London Metal Exchange (LME). A number of industry associations have recently and publicly stated that such a move would be to the clear detriment of the aluminium consuming industry, and furthermore to the benefit of its competitors.

As a company, we have recently stated categorically that there are no plans to deliver aluminium to the exchange, by virtue of a strong sales and order book moving in to 2023. This is clearly a matter for RUSAL and its customers and not within the purview of certain competitors to neither comment on nor try to influence. The data and evidence to support this has been provided directly to the LME in response to the recent discussion paper.

In addition, we are confident that the data request made by a competitor to the LME regarding recent exchange deliveries would or will show that material of non-Russian origins dominated the inflow. Suggestions by competitors to the contrary are quite simply false, and damaging to market order.

Through its ALLOW brand, RUSAL is the largest low carbon aluminium producer globally. These value added products are and will continue to remain critical in global supply chains both now and in future, regardless of anti-competitive media speculation by competitors.
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