Russian aluminium giant RUSAL has refuted recent media reports in the strongest terms any suggestion that it is planning to deliver large quantities of metal on the LME, in Europe, the US 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.
Russian aluminium giant RUSAL has refuted recent media reports in the strongest terms any suggestion that it is planning to deliver large quantities of metal on the LME, in Europe, the US 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.
