Russia: Rusal to Slip into the Red

People ♦ Published: August 19, 2013; 13:23 ♦ (Vindobona)

Russian metal giant Rusal has to decrease production by 357,000 tons this year due to a drop in prices in aluminium. The company now hopes for state subsidy.

Russia: Rusal to Slip into the Red / Picture: ©

The world’s biggest aluminium producer Rusal has slipped into the red because of falling prices. On Monday, Russian enterprise and competitor of Alcoa showed a substantial loss in the amount of $ 208m for the past quarter. At the end of 2012, profits in the amount of $ 125m were noted. The corporation covers around 75 percent of domestic demand. Now, Rusal intends to decrease the…