Shares Russian Aluminum RUSAL company rose to 75.89 rubles per bidding at the bidding on the Moscow stock exchange on Monday, October 11, and broke the historical record. The peak of the cost of papers was recorded at 11:07 Moscow time. At 11:40 Moscow time actions were traded at 75.86 rubles per piece (plus 2.09 percent).
Paper “Rusala” rose on the news about the rise in price of aluminum. For the first time since July 2008, the cost of metal exceeded 3 thousand dollars per ton. Aluminum prices are growing from the beginning of this year against the background of growing demand and due to the actions of China to reduce production for the decline in harmful emissions.
In early September, the state coup in Guinea became another reason for the growth of the value of aluminum. The African country accounts for up to a quarter of world bouxite production – raw materials for the production of aluminum. Former President “Rusal” Oleg Deripaska said that the events in Guinea could significantly shake the situation in the aluminum market.
At the end of September, the US Department of Commerce decided to seek the introduction of anti-dumping duties on the import of foil RUSAL company in the amount of 62.18 percent. The department believe that some types of import foil are sold in the US lower than fair value. In November 2021, the Federal Commission on International Trade will take a final decision on tariffs.