Rusal's financial report showed that, affected by its capacity optimization plan, full-year 2025 primary aluminum production fell 1.9% YoY to 3.918 million mt (2024: 3.992 million mt). Alumina production, meanwhile, rose 6.7% YoY to 6.858 million mt. In addition, benefiting from the Guinea expansion project and increased equity interests in refineries in China and India, bauxite production increased 16.2% YoY to 18.453 million mt.

[Weekly Operating Rates in the Aluminum Processing Industry: China's Aluminum Processing Sector Sees Modest Growth Amid Peak Season Demand] This week, the weekly operating rate of leading downstream aluminum processing enterprises in China edged up 1 percentage point WoW to 62.9%.

[SMM Morning Meeting Summary: The US Fed Held Rates Unchanged, and LME Zinc Came Under Pressure] Overnight, LME zinc opened at $3,220.5/mt. In early trading, LME zinc briefly rose to a high of $3,227/mt, after which bulls reduced their positions, and LME zinc fluctuated downward throughout the session, hitting a low of $3,130/mt near the close. It finally closed down at $3,132.5/mt, a decrease of $100.5/mt, or 3.11%. Trading volume increased to 16,556 lots, and open interest fell by 6,295 lots to 208,000 lots.

[SMM Aluminum Express News] Russian Ambassador Sergei Tolchenov proposed cooperation with West Kalimantan on a nuclear power plant, aluminum processing facility, and educational programs. Accompanied by Russian investors from bauxite, aluminum, and nuclear sectors, he asked the province to identify strategic partners. Rosatom (Anna Belokoneva) presented reactor technologies from 100 MW to 1,200 MW with high safety standards. Rusal (Aleksey Mirskiy) offered to invest in an aluminum processing plant and invited Governor Ria Norsan to visit Rusal facilities in Russia. Governor Ria Norsan welcomed the offers, confirming a prepared site for a nuclear power plant on Semesak Island, Bengkayang District, and openness to Russian investment.

【Rusal Announces 10% Production Cut, Yet Achieves Full-Year Production Growth in 2024】On April 28, Elena Bezdenezhnykh, Vice President of Rusal, stated in an interview with Russian media outlet Kommersant that, due to high alumina prices and external sanctions pressure, Rusal had initiated capacity optimization measures since the end of 2024, resulting in an overall 10% reduction in aluminum production. The production cuts were evenly implemented across various plants in regions such as Siberia, without closing any plants or halting production entirely. Despite announcing production cuts at the end of the year, Rusal still achieved a 3.7% YoY increase in aluminum production for the full year of 2024, with total production reaching 3.992 million mt. Alumina production also increased by 25.27% YoY, reaching 6.43 million mt. (In 2023, alumina production was 5.13 million mt, and aluminum production was 3.85 million mt.)

Russian aluminum giant Rusal achieved a 41.6% growth in adjusted net profit in the first half of the year, primarily due to the company's successful increase in production of aluminum, alumina, and other products, resulting in record-breaking exports to China. In addition to its domestic operations in Russia, the company also has a presence in Guinea, Jamaica, Ireland, and Sweden. Despite the impact of Western sanctions on Russia, Rusal was not among those targeted, and its deliveries to China reached an all-time high. In the first half of 2024, the company produced more primary aluminum and alumina than last year, with prices also experiencing an uptick. Although exchanges such as LME and CME have banned the import of metals produced in Russia, Rusal has maintained stable performance in both the Chinese and Russian markets. For the first half of this year, the company's adjusted net profit reached $446 million, representing an increase of approximately 41.6% over the same period last year.