Arab Today, arab today russia\s rusal posts 55m net loss
Last Updated : GMT 12:25:23
Arab Today, arab today
Arab Today, arab today

Russia\'s Rusal posts $55m net loss

Arab Today, arab today

Arab Today, arab today Russia\'s Rusal posts $55m net loss

Hong Kong - AFP

Russian aluminium giant Rusal on Monday reported a net loss of $55 million for 2012, as the firm said it would cut production following lacklustre demand for the metal and falling prices. The world\'s largest aluminium producer fell into the red for the fiscal year ending December 31, 2012, compared with a net profit of $237 million in 2011, the Moscow-based firm said. Revenue fell 11.4 percent to $10.89 billion. \"2012 remained particularly challenging for the aluminium industry,\" its chief executive Oleg Deripaska said in a filing to the Hong Kong stock exchange, where the firm is listed. He said although the global aluminium consumption rose by six percent in 2012 to 47.4 million tons, prices fell 15.7 percent year-on-year due to \"negative investor sentiment\". \"The unfavourable market conditions and lower LME (London Metal Exchange) price has inevitably impacted the operating results of the company,\" he added. Rusal said it expects to cut approximately 300,000 tons of aluminium production capacity at its \"less efficient aluminium smelters\" by the end of 2013 to improve efficiency. The price of aluminium, which is used in industries including automotive and construction, is trading around $1,975 a ton on the London Metal Exchange, down 15.2 percent from a year ago. Rusal said it expects the global aluminium market to be \"balanced\" this year, with growth to be led by China and India, as the global primary aluminium consumption is forecasted to grow 6 percent to 50 million tons this year. \"(Rusal) expects that the uncertainties seen in 2012, namely the current eurozone financial crisis and slowdown in Chinese growth, will lessen during 2013,\" the firm said. The announcement comes after Russian investigators last week said they were searching the Moscow offices of Rusal as part of a probe into alleged tax violations, a claim that the firm has dismissed as groundless. Rusal\'s share price plunged 2.98 percent to HK$4.24 ($0.55) on the Hong Kong bourse at noon.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s rusal posts 55m net loss Arab Today, arab today russia\s rusal posts 55m net loss

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s rusal posts 55m net loss Arab Today, arab today russia\s rusal posts 55m net loss

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday