|Bid||3.420 x 0|
|Ask||3.430 x 0|
|Day's Range||3.390 - 3.470|
|52 Week Range||1.830 - 3.980|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||3.91|
|Earnings Date||Nov 4, 2019 - Nov 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.84|
Braidy Industries and Rusal announces new mega-aluminum partnership. Yahoo Finance's Adam Shapiro and Julie Hyman join En+ Group Executive Chairman Lord Greg Barker and Braidy Industries Chairman & CEO Craig Bouchard to discuss.
Craig Bouchard compared the Russian aluminum giant to Miley Cyrus and says he's not concerned it will be hit with U.S. sanctions again.
Russian bank VTB is in talks with Chinese companies over a potential investment in energy-to-aluminium group EN+, people with knowledge of the talks told the Financial Times. VTB, the Kremlin-controlled bank that owns 21.68 per cent of EN+, has been approached by two Chinese state-related industrial groups about a potential share sale, according to two people briefed on the talks.
In late January Washington lifted the sanctions, imposed on Rusal and its co-owner Oleg Deripaska in April 2018, after intense negotiations and a series of organisational changes within Rusal. Tuesday's results showed recurring net profits dropped to $300 million, from $531 million at the same time last year, sending Rusal's Hong Kong-listed shares down by as much as 4.8% to HK$2.98. "The first quarter of the year was significantly challenged by the past year's events, including the (U.S. Treasury) sanctions which were only lifted on 27 January 2019," Rusal chief executive Evgenii Nikitin said in a statement.
Aluminium tied up in financing deals and collateral for loans, shortages and inventory draws will sustain prices in the physical market even as funds expecting sluggish demand sell derivatives. Physical premiums in Europe, paid above benchmark London Metal Exchange prices around $1,800 (1,384.4 pounds) a tonne, fell to $60 a tonne early January in anticipation of the removal of sanctions on Russian aluminium giant Rusal.
Russian aluminium producer United Company Rusal Plc has reduced its first-quarter sales of value added products (VAP) by 44 percent from a year ago and by 22 percent from the last quarter of 2018 because of sanctions by the United States. Washington imposed the sanctions on Rusal, the world's largest aluminium producer outside China, in April 2018 but lifted them on Jan. 27 as company co-owner Oleg Deripaska reduced his stake after months of talks and several extensions of the deadline for sanctions to take full effect. Despite the lifting of the sanctions, the company said that its sales of VAP metal - alloyed ingots, slabs and some other products - were affected in the first quarter since the contracts were constrained by being signed while the company was still under the sanctions.
Russian aluminium giant Rusal has appointed Charles Brian Hesse the head of its office in the United States at a time when it is trying to strengthen its presence in North America, the firm said in a statement on Tuesday. Prior to joining Rusal, the world's largest aluminium producer outside China, Hesse was the vice president of sales and marketing for the Americas for India's Vedanta, and prior to that, global sales director in a rolled products manufacturer, Aleris International. Rusal earlier in April landed its first investment in the United States since Washington lifted sanctions on it, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky.
FRANKFORT, Ky. (AP) — An aluminum company planning to build a $1.7 billion plant in Appalachia said Monday it's forging a partnership with a Russian company that until recently faced U.S. sanctions.
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world's largest aluminum producer outside China, announced the deal in one of the main markets for the sector less then three months after it was removed from a blacklist. It had already resumed supplies to the U.S. market.
April 15 (Reuters) - United Company Rusal Plc: * ANNOUNCES LETTER OF INTENT IN RELATION TO A GREEN FIELD ALUMINIUM ROLLING MILL IN ASHLAND, KENTUCKY, USA * ANTICIPATED THAT CO'S INVESTMENT INTO PROJECT ...