Open letter to the LME dated 16th November

RUSAL naturally welcomes the LME’s decision not to delist its brands from the exchange. The decision to maintain the status quo (i.e. Option A) is without doubt the correct outcome. RUSAL has consistently communicated that this reflects the feedback given by a wide array of the industry. This is also in line with the LME’s preference of making decisions in accordance with democratically elected governments.
No amount of market discussion can take the place of commercial information direct from the affected producers and we demonstrated in the data provided by RUSAL to the LME during the discussion process, we maintain a solid sales book moving in to 2023.

As the biggest producer of low carbon Aluminium globally, we have and will continue to serve broad spectrums of the industry and support their efforts to reduce carbon footprint.
We would like to take this opportunity to reiterate that RUSAL has no intention to deliver metal to the exchange. In relation to this matter, from January the LME plans to publish a monthly report on the percentage of live Russian metal on warrant. RUSAL has pushed for greater transparency for many years, however we are naturally concerned that any such report would be restricted to Russian metal only.
The LME publishes a similar report at the start of April each year covering all regions (annexed).

In order to best serve the market through transparency, without singling out any specific origin or producer, we seek your confirmation that any future reports would contain the split of metal from all regions, similar to the annual release.
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