Russian manufacturer Rusal’s total aluminum output in 2020 stood at 3.755mn mt, down by 0.1pc from 3.757mt mt in 2019, maintaining almost the same output volume as the prior year, the company announced in its 2020 operating results.
In the Q4 of the year (Oct-Dec, 2020), the company’s total aluminum output stood at 950,000mt, up by 1.2pc as compared to 939,000mt produced in the prior quarter (Q3 2020), with Siberian smelters representing 93pc of total aluminum output.
The company’s total alumina production in 2020 grew by 4.1pc to 8.182mn mt as compared to 7.858mn mt produced in the previous year. The company said that the increase in its total alumina output was due to a gradual production ramp-up at the Friguia bauxite and alumina complex.
In Q4 2020, the company’s total alumina production rose by 6.1pc to 2,142mn mt from 2.018mn mt produced in the preceding quarter. The company’s Russian operations accounted for 36pc of total alumina output.
Rusal’s total aluminum sales in 2020 fell by 6pc to 3.926mn mt as compared to 4.176mn mt sold in 2019.
The company said that the reduction in sales is attributable mostly to a higher base in 2019 when sales volumes were above normal levels due to the partial sell-down of surplus inventories of primary aluminum that were accumulated over 2018 as a result of OFAC5 sanctions.
In 2020, it successfully adjusted the regional sales geography in line with the new market environment caused by COVID-19.
European destination continued to dominate the sales, however, its shares in the total sales fell to 45pc, while Asia’s share grew to 25pc. This shift reflects the less severe lockdown measures in Asia and an arbitrage opportunity in China underpinned by the country’s fast economic recovery, the company said.
In Q4 2020, the company’s total aluminum sales stood at 1.028mn mt, up by 2pc from 1.008mn mt sold the previous quarter.
In 2020, Rusal accounted for about 5.8pc of global aluminum and 6.5pc of alumina production. The company’s offices are operating in 20 countries all over the world and across five continents.