One of the world's largest aluminum producers, RUSAL expects that in 2019 the global demand for primary aluminium will remain at the level of the previous year and will amount to 66 million tons, and the market will experience a deficit in the amount of approximately 1 million tonnes.
General market uncertainty related to the differences in the trade between China and the United States, in combination with global contraction may have a negative impact on the aluminium prices at the end of this year, according to the "RUSAL".
For the first nine months of this year, growth in global demand for primary metal slowed down to almost zero, reaching 49.5 million tonnes (excluding China, the market has dipped by 1.5% since last year to 21.9 million tons; while in China, the market grew compared to the previous year by 1.4% to 27.6 million tons).
In the first nine months of the current year in the rest of the world (excluding China) production of aluminium increased by 1.3% to 20.9 million tonnes, which negatively affected premiums and LME prices, as well as on the dynamics of stocks.
In the "RUSAL" reported that its revenues dropped in the first nine months of 693 million U.S. dollars, or 8.8% to $ 7 billion 222 million dollars, compared to the same period last year. The profit of the company amounted to 819 million US dollars for the nine months ended September 30, 2019, compared with 1 billion 549 million dollars in the same period of 2018.
Adjusted EBITDA, defined as results from operating activities adjusted for amortisation and impairment of tangible and intangible assets and loss on disposal of fixed assets, fell to 765 million dollars in the first nine months of 2019, compared to 1 billion 800 million U.S. dollars in the same period of 2018.
