Russia's Support For RUSAL Will Cost 10 Billion Rubles To Store Up To 50,000 Tons Of Aluminum

- Nov 30, 2018-

According to a foreign news report on November 28, a Russian government announced on Wednesday that the government will store up to 50,000 tons of aluminum, which means that the Russian government has taken support for Rusal because the company is experiencing the US side. Sanctions. After the announcement, Russian aluminum shares rose 2% in the Moscow stock market. The decree was issued on November 26, stipulating that Russia will spend 10 billion rubles ($149 million) to acquire aluminum (produced by Rusal) as a national reserve and cooperate with Russian billionaire Oleg Deripaska. Maxim Hudalov, an analyst at the Russian rating agency ACRA, said that 50,000 tons of aluminum is only 17% of Russia's monthly aluminum exports, but if Rusal is facing cash shortages, this can at least provide some help.