One of the largest aluminum producers, Rusal reported a decrease in aluminum output in the first half of this year. As the company said, amid overproduction and the fact that the exchange price fell below production costs, the company incurred a loss of two hundred eight million dollars.
In today's time, when the world is quite acute problem of the crisis of excess production in the international precious metals market, the London Stock Exchange there was a decline in the aluminum price by as much as eight percent. This led to a significant podeshevenie this precious metal to $ 1,919 per ton during the six months, while in the second quarter of the cost of aluminum was $ 1,911 per ton of weight.
What is most interesting years ago analytical forecast compiled the most famous analysts predicted one hundred forty-two million dollars of normalized net loss. And in fact, the results were much worse. In particular, representatives of Rusal represent a normalized net profit as the adjusted net profit, together with an effective share in Norilsk Nickel Rusal.
In addition, it should be noted that the shares of Rusal had last week a nasty tendency to podeshevenie. Thus, Hong Kong bids were almost unchanged, while in Moscow became less at 1.2 percent.
By the way, it is important to say that from the very beginning of the year the production of aluminum tended to decrease. In the first six months of this year it was recorded a decrease of four and a half per cent compared with the previous year, which amounted to about a hundred thousand tons, and the second quarter provided another decline for another five percent.
Quoted a press release, the company director said that the industry production and sales of aluminum at the moment is in crisis, which is further reinforced by the new additions to the stagnant Freshly aluminum stocks. This situation creates significant pressure on all international markets. In addition, the words CEO of Rusal, despite the fact that the market remains rather stable and sustainable demand for aluminum due to widespread use in engineering, construction, packaging industry and electrical engineering, still retained the overall disappointment of investors in the existing commodities.