Rusal Says Its Aluminum Production Grew by 1.3% to 3.753Mln Tonnes in 2018

MOSCOW (Sputnik) - Russia's United Company RUSAL said that in 2018, its aluminium production grew year-on-year by 1.3 percent to 3.753 million tonnes.

In the fourth quarter of 2018, the company's aluminium production increased in comparison with the third quarter by 0.4 percent to 943,000 tonnes.

The average price for aluminium last year went up by 7.3 percent to $2,259 per ton. However, in the fourth quarter of 2018, the quarterly price lowered by 7 percent to $2.115 per ton.

READ MORE: Russia's Rusal Shares Up by 7.7% at Hong Kong Exchange as US Lifts Sanctions

Last month, The London Metal Exchange (LME) said in a statement that the LME lifted restrictions on warranting Rusal-branded metal after the United States removed sanctions on the Russian aluminium giant.

In April, the US introduced new sanctions against Russia, in particular, adding Deripaska and a range of Russian companies, including Rusal, to the OFAC's List of Specially Designated Nationals and Blocked Persons. The entities included in this list have their assets in the United States blocked, and US citizens are banned from any business with these companies, including any operations with debt and equity instruments.