|Bid||2.120 x 0|
|Ask||2.130 x 0|
|Day's Range||2.110 - 2.160|
|52 Week Range||1.310 - 6.360|
|PE Ratio (TTM)||3.41|
|Earnings Date||Nov 5, 2018|
|Forward Dividend & Yield||0.15 (7.09%)|
|1y Target Est||0.89|
Russia's sanctions-hit aluminum giant Rusal said on Friday its board had discussed and approved a change of domicile from Britain's Jersey to Russia in order to take advantage of new special tax regulations. Rusal, which was hit with U.S. sanctions in April that seriously disrupted aluminum supplies, said the relocation was still subject to shareholder approval. The announcement comes a day after En+ Group (ENPLq.L), which is also subject to U.S. sanctions on the two companies' tycoon co-owner Oleg Deripaska, said it was considering re-domiciling to one of Russia's new offshore zones.
Expectations of a boom in demand for electric vehicles are leading investors and battery makers to stockpile nickel and helping to fuel a spike in global prices of the metal, Russian mining company Norilsk Nickel said on Monday. Nornickel, the world's second-largest nickel producer, said demand for the metal from the battery sector leapt 38 percent in the first half of this year versus the same period last year. Along with demand from the stainless steel sector, this helped boost prices to $15,750 per tonne in June, their highest in over four years, the company said, with the battery sector accounting for 5 percent of total global nickel demand.
Russia's Norilsk Nickel (Nornickel) posted a 77 percent leap in first-half core earnings, with strong global prices offsetting the impact of U.S. sanctions on the company's co-owner. The results mark the first test of Nornickel's financial health since the United States imposed sanctions in April on aluminium giant Rusal, which holds a 27.8 percent stake in the company. At $3.1 billion, Nornickel's first-half earnings before interest, tax, depreciation and amortisation (EBITDA) beat expectations.
Russian aluminium giant Rusal is concerned about an impending catastrophe if U.S. sanctions are not lifted, with some of its production halted as early as September, two sources close to the company said. Under the terms of the sanctions, imposed in April in response to Moscow's alleged meddling in the 2016 U.S. election, U.S. customers must wind down business with Rusal by Oct. 23. "If sanctions are not lifted in the near future, then contracts will expire and from Oct. 1, all of the company's production, intended for the external market, will once again go into the warehouses," a source close to Rusal said.
Chinese traders are throwing their weight around in the aluminum market. On Wednesday, just when U.S. traders were settling in at their desks, counterparts on the other side of the globe were piling into the Shanghai Futures Exchange. In the half hour ended 9:30 p.m. in Shanghai, 68,430 contracts for delivery in October changed hands, helping trigger buy orders on the London Metal Exchange that sent the metal to its biggest gain in three months.
Russia's Rusal, the world's largest aluminium producer outside China, has started shutting down production at one of its smaller plants as a result of U.S. sanctions on the company, Rusal representatives said on Monday. Operations at the Nadvoitsky aluminium smelter in Russia's Karelia region cannot continue as the plant lost access to its end market and to a steady supply of raw materials ever since Washington imposed sanctions on Rusal on April 6, the company said. Under the sanctions, designed to punish Moscow for its alleged meddling in the 2016 U.S. election, U.S. customers must wind down business with Rusal by Oct. 23.
HONG KONG/MOSCOW (Reuters) - Russian aluminium giant Rusal's quarterly profit surged thanks to higher market prices for the metal, despite sanctions imposed by Washington. Recurring net profit of Hong Kong-listed Rusal, the world's largest aluminium producer outside China, was up 75 percent from a year ago in the second quarter, but 17 percent lower than this year's first quarter, the company said on Monday. Recurring net profit is defined as adjusted net profit plus the company’s net effective share in Norilsk Nickel’s results.
Russian aluminium giant Rusal stockpiled almost half a billion dollars of metal in the first half of the year as it grappled with the impact of sweeping US sanctions. In a results filing the company controlled by oligarch Oleg Deripaska, said inventories had risen by to $2.88bn at end the of June, from $2.41bn in December. “This increase was primarily due to the lower sales volumes in the second quarter of 2018 due to the Office for Foreign Assets Control (OFAC) sanctions as well as significant increase in electricity prices, railway transportation tariffs and other raw material costs in Russian ruble terms,” Rusal said in its results statement.
Shares in Russian aluminium producer Rusal rose 6 per cent on Monday after the company reported a profit for the second quarter despite US sanctions imposed in April. Rusal reported adjusted earnings before interest, taxes, depreciation and amortisation for the three months to the end of June rose 8 per cent compared to the same period last year to $552m.
Shares in Russian aluminium producer United Company Rusal slipped 0.7 percent in early trading on the Moscow exchange on Wednesday after the U.S. Treasury extended the deadline for divesting from the sanctioned ...
The U.S. Treasury Department said on Tuesday that it had extended the deadline for investors to divest holdings in sanctioned Russian companies EN+ , GAZ Group and Rusal to Oct. 23 from Aug. 5. The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including aluminum exporter Rusal, in response to what it termed "malign activities" by Russia. Deripaska has held a controlling interest in En+, which in turn controls Rusal, the world's largest aluminum producer outside of China.
The U.S. Treasury Department gave investors more time to sell their shares and debt in En+ Group Plc and affiliate, United Co. Rusal, but stopped short of removing the aluminum and power companies from a sanctions list targeting Russian billionaire Oleg Deripaska. The deadline for investors to sell their shares and debt in En+ and Rusal was extended to Oct. 23 from Aug. 5, the Treasury’s Office of Foreign Assets Control, or OFAC, said in a statement on Tuesday. The decision suggests further negotiations are needed before making progress on lifting sanctions, after OFAC shunned a request by En+ and its lobbyist Mercury LLC to temporarily withdraw the company and Rusal from the list.
MOSCOW, July 26 (Reuters) - The following are some stories in Russia's newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. VEDOMOSTI www.vedomosti.ru - ...
While the market for commodity-grade metal -- such as the ingots traded on the London Metal Exchange -- has largely returned to normal, the specialized business of semi-finished aluminum, from billets and slab to wire rods, is pricing in severe shortages. What’s accounting for the difference: Rusal was one of the top makers of semi-finished metal, and some manufacturers aren’t willing to rely on the Russian company -- even if sanctions are eventually fully lifted. Metal buyers are “definitely going to be more prepared if it happens again,” said Henry Van, an aluminum market analyst at CRU Group.
En+ Group Plc has asked for a temporary reprieve from U.S. sanctions by Aug. 5 as the final phase of its plan for billionaire Oleg Deripaska to relinquish control is “ready for implementation,” according to a filing from a lobbyist for the company. The filing by Mercury LLC gives new detail on En+’s plans to persuade the U.S. Treasury to lift sanctions against the company and United Co. Rusal, which it controls. Without that relief, the lobbyist said En+ would have to consider a sale to China or nationalization, while the global aluminum market could see a repeat of the turmoil that followed the imposition of the sanctions in April.
The Turkish lira firmed on Monday after comments from the finance minister cemented expectations of an interest rate hike this week, but emerging equities struggled in the face of new trade war threats. ...
Mnuchin's comment was the latest indication the Trump administration was trying to aid sanctions-hit Rusal, which has taken a series of steps to try to appease the U.S. government and get the restrictions lifted. The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and the eight companies in which he is a large shareholder, including Rusal, in response to what it called "malign activities" by Russia.
Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on selling two blocks of the vast Simandou iron ore project, its mining minister said, adding he was confident an agreement would be reached. Rio Tinto in October 2016 said it had signed an outline agreement to sell its major stake in Simandou to Chinalco, a move many hoped would revive the long-stalled scheme.
A U.S. lobbying firm sought to recruit the ambassadors of France, Germany and several other countries to demonstrate international support for severing Russian oligarch Oleg Deripaska's control of Rusal, the aluminum manufacturing giant sanctioned by Washington. Documents made public by the Justice Department show that Mercury LLC drafted messages for at least six envoys to send to senior U.S. government officials that expressed support for a plan to eliminate Deripaska's majority stake in the EN+ Group, the holding company that owns nearly 50 percent of Rusal. Deripaska's close ties to Russian President Vladimir Putin are under a microscope while unintended targets of the U.S. penalties struggle with the punishment's impact.
The impact of U.S. sanctions against billionaire Oleg Deripaska and his Rusal aluminum empire has trickled down to Siberia’s working class.
Shareholders at sanctions-hit Russian aluminum producer Rusal elected a new board of directors on Thursday in an effort to appease the U.S. and get the restrictions lifted. The new board, dominated by independent directors and operational managers, is part of a series of steps which Rusal and its co-owner Oleg Deripaska hope will persuade the U.S. government to remove the company from sanctions that have damaged its business since April. Rusal has felt the impact of the U.S. sanctions because of its entanglement with Deripaska, but the U.S. government is not targeting the hardworking people who depend on Rusal, U.S. Treasury Secretary Steven Mnuchin said in April, when Washington extended a deadline for Rusal sanctions.
United Co. Rusal is doing everything it can to avoid punitive U.S. restrictions due for full enforcement in October, according to the Russian aluminum giant’s acting Chief Executive Officer Evgeny Nikitin. “Right now, we are taking all the actions that should be required to achieve the right result for the company,” Nikitin, who replaced Alexandra Bouriko, said in an interview Thursday after the company’s annual meeting in Hong Kong. “We are operating in full compliance with the conditions of our license” from the U.S. Treasury’s Office of Foreign Assets Control, he said.
LONDON/MOSCOW (Reuters) - Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman. Deripaska, who controls aluminium giant Rusal , wants to stop Abramovich from selling Norilsk Nickel (Nornickel) (GMKN.MM) shares to Russian businessman Vladimir Potanin, saying that would violate a 2012 shareholder agreement.