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| Monday, 7 November 2011, 18:00 HKT/SGT | |
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Source: RUSAL | |
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MOSCOW, Nov 7, 2011 - (ACN Newswire) - UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUAL), world's largest aluminium producer, announces the Shanghai Futures Exchange registration of RUSAL's IRKAZ SUAL and RUSAL KH brands produced at the Irkutsk and Khakas aluminium smelters. The aluminium products are now deliverable against the SHFE Aluminium Contract.
The registration at the SHFE represents a significant step in the Company's strategy to secure its long term presence in the Asian, and in particular, the Chinese market. The aluminium products registered at the SHFE are produced at the smelters in Siberia in direct proximity to China, the world's biggest aluminium consumer with a 40% share in global aluminium consumption. Presently RUSAL produces 3.5 million tonnes of aluminium per year at its smelters in Siberia, and forecast to grow to over 4.8 million tonnes with the commissioning of the Boguchansky and Taishet smelters. Over 90% of this capacity is low carbon footprint hydro powered and ideally located to support China's growing aluminium consumption which is expected to reach 30 million tonnes by 2015 from 19 million tonnes this year.
Vladislav Soloviev, UC RUSAL's First Deputy CEO, commented: "The registration of two RUSAL brands at the Shanghai Futures Exchange represents a good opportunity for a more efficient promotion of our products in China. Growing urbanization and industrial development will continue to drive China's dominant role in the global aluminium consumption, and RUSAL, as the world's largest producer of the light metal, is ready to meet this demand."
The SHFE registration is a rigorous process requiring brands to reach exacting standards in chemical composition, shape and packaging. A producer must be audited to check standards and to ensure the management systems are in place that ensures sustainable supply. RUSAL is only the second foreign company to obtain SHFE Aluminium Contract registration.
Disclaimer
The information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.
All announcements and press releases published by United Company RUSAL Plc are available on its website under the links http://www.rusal.ru/en/stock_fillings.aspx and http://www.rusal.ru/en/presscenter.aspx , respectively.
Contact:
Vera Kurochkina
+7 495 720 5170
Vera.Kurochkina@rusal.com
Topic: Production report
Source: RUSAL
Sectors: Metals & Mining
https://www.acnnewswire.com
From the Asia Corporate News Network
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