Geneva DryBühler GmbHPort of StocktonCimbriaViganVan Aalst
  • Sailors Society
  • Cimbria
  • Telestack
  • Port of Stockton
  • Geneva Dry
  • Van Aalst

Rusal announces Q1 results

Rusal announces Q1 results

(Posted on 28/04/20)

RUSAL, a leading global aluminium producer, has announced its operating results for the first quarter 2020

Commenting on the first quarter 2020 results, Evgenii Nikitin, CEO of RUSAL, said:

“Today we all live in a new paradigm, where we face a new challenging and unpredictable situation. The impact that these challenges, caused by the pandemic, will have on the economy is yet to be evaluated, but it will certainly affect all industries, including the aluminium market. It is not too early to predict that the spread of the coronavirus could considerably decrease the aluminium demand and deteriorate business conditions across all regions.

Despite the economic turbulence during the first three months of the year, RUSAL is demonstrating a robust performance thanks to a highly skilled and flexible management team. RUSAL’s total aluminium sales in the first quarter of 2020 decreased by 17.4% compared to the fourth quarter 2019, but this was due to the high base effect, after high level of sales during the last three months of the past year. However, sales increased by 2.0%, compared to the same period the previous year. Also, the total sales mix has value added products’ share of 46%, almost reaching the level registered in 2017, before the OFAC Sanctions.

RUSAL’s economic model has proven to be efficient and agile during periods of market volatility. One of the lowest production costs per tonne across the industry serves us well during the current unpredictable market conditions. Furthermore, RUSAL has not had to suspend or halt production due to its ability to continue operations whilst ensuring the safety of our employees. We were one of the first companies to introduce heightened health and safety measures to protect our employees from coronavirus.

Our business as usual approach allows us to focus on the obligations we have to our customers without jeopardizing the health and safety of our employees. We are so pleased we can continue to support our customers in such difficult times”.

Latest News

Rio Tinto reaches four billion tonnes of iron ore shipped to China

(Posted on 22/07/24)

Rio Tinto has celebrates the shipment of four billion tonnes of iron ore from the Pilbara in Western... Read more


Africa’s opportunity to build sustainable logistics networks across mining sector

(Posted on 18/07/24)

Capt. Pappu Sastry, CEO of Adhira Shipping and Logistics (ASL) has said that Africa’s mining sector... Read more


Conditions on Simandou iron ore investment now satisfied

(Posted on 16/07/24)

All conditions have now been satisfied for Rio Tinto’s investment to develop the Simandou high... Read more


ADM offers segregated, traceable soybean meal to European customers

(Posted on 12/07/24)

ADM, a global leader in innovative solutions from nature, has announced that it is offering fully verified... Read more


Rio Tinto to install carbon free aluminium smelting cells

(Posted on 04/07/24)

Rio Tinto will install carbon free aluminium smelting cells at its Arvida smelter in Québec,... Read more


Moonbound appoints ASL for long-term South African lithium logistics project

(Posted on 28/06/24)

Moonbound Mining Ltd. has appointed Adhira Shipping and Logistics (ASL) as its logistics contractor... Read more


ADM and Bayer collaboration help farmers achieve lower carbon emissions

(Posted on 19/06/24)

 ADM and Bayer have announced an extension of their collaboration, working with farmers in a bid... Read more


US House appropriations bill includes reinstatement of NASS reports

(Posted on 14/06/24)

A House appropriations subcommittee in the USA has approved its Fiscal Year 2025 bill that includes... Read more


Rio Tinto to acquire Mitsubishi’s stake in Boyne aluminium smelter

(Posted on 14/06/24)

Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Ltd... Read more


Richards Bay Minerals’ renewable energy agreement

(Posted on 07/06/24)

Richards Bay Minerals (RBM) has signed a renewable power purchase agreement (PPA) with Khangela Emoyeni... Read more


TBA GroupPort of South LouisianaSailors SocietyTMS Awards 2023Telestack
  • Port of South Louisiana
  • TBA Group
  • Vigan

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping