Wednesday, 7 August 2013

Market Stagnation Forces RusAl to Consolidate | Business | The Moscow Times

Market Stagnation Forces RusAl to Consolidate | Business | The Moscow Times:

"Stagnation in the commodities market is forcing aluminum giant UC RusAl to cut costs by reorganizing the company's plant in Volkhov and possibly freezing production at four other facilities, Vedomosti reported Wednesday.

The company, whose value has dropped by 45.3 percent since the start of 2013, is taking steps to protect its still-profitable production facilities in Siberia. The frozen assets will be reactivated when the price of aluminum exceeds $2,400 per ton, which will make production profitable again, RusAl's CEO Oleg Deripaska said.

However, he expects the price of aluminum to plunge to $1,800 per ton by the end of 2013."

'via Blog this'

No comments:

Post a Comment