Rusal expects alloys share in production structure to exceed 50% by 2020, says CEO
Russia’s aluminum producer Rusal aims at bringing the share of alloys to at least 50% of the total production structure over the mid-term, Chief Executive Officer Evgenii Nikitin said in an interview with TASS at the Krasnoyarsk Economic Forum, adding that the company had such operating performance prior to 2018.
"Taking the period prior to 2018, at the time alloys accounted for over 50% (of total production). The target is to reach that level by 2020 and continue boosting the production of alloys further on," he said.
According to Nikitin, this year Rusal expects output of products with high-added value to rise compared with 2018. The company also seeks to raise the share of products with high-added value to over 60% of all sold products.
In 2018, the company produced 3.753 mln tonnes of aluminum, an increase of 1.3% compared with 2017. Meanwhile, sales dropped by 7.2% in the period to 3.671 mln tonnes. The share of products with high-added value in the sales structure amounted to 45% against 47% in 2017.
Rusal is the largest aluminum producer outside China and the only primary aluminum producer in Russia. Rusal exported more than 80% of its products before US sanctions were slapped. Restrictions were lifted in late January.