Aluminium...........
Rusal has reported that the primary aluminium production in the first quarter of 2013 decreased by 4% or 42 thousand tonnes to 1007 thousand tonnes compared to the first quarter of 2012 or by 3% or 31 thousand tonnes compared to the fourth quarter of 2012 reflecting the launch of capacity curtailments program and was mostly attributable to the decreased production at certain less efficient smelters located in European part of Russia and Urals.
Revenue in the first quarter of 2013 increased to $ 2,682 million (by 2.2%) as compared to $ 2,624 million for the fourth quarter of 2012 due to historically high premiums over LME aluminium price of $ 264 per tonne and improvement of the product mix offsetting a 1.7% decrease in physical aluminium sales while the metal price on LME was almost flat as compared with the last quarter of the preceding year.
Speaking on the occasion Oleg Deripaska, CEO of RUSAL said:
“Despite continued weakness in global aluminium prices and unfavorable market developments, RUSAL delivered a set of improved quarter-on-quarter financial results in the first three months of 2013. Our top-line increased to $ 2,682 million, up 2.2% from the fourth quarter last year, while EBITDA grew by 11.3% to $ 246 million in the same period reflecting record-high realized premiums and further improvements to our product portfolio.”
Source by Commodity Insights
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