RUSAL expects reduction of aluminum consumption in Russia in 2015

The largest aluminum producer RUSAL expects aluminum consumption in Russia to fall by 5 percent this year. The company produces 7 percent of the world's aluminum, which is used in everything from beverage cans to car bodies.

RUSAL successfully restructured its $ 10 billion in debt last year and now wants to become the world's most profitable aluminum producer by focusing on high-margin products for the automotive and construction industries.

Nevertheless, the company is facing obstacles in the form of reduced consumption in the domestic market and lower prices for aluminum . RUSAL recently announced that the London Metal Exchange (LME) allows price distortion. As a result of the actions of financial market players, the price of aluminum is traded on the LME by as much as 30 percent lower and does not reflect the real balance of supply and demand.

RUSAL has also been involved in a bitter legal scuffle with the LME over plans to reform the stock exchange's warehousing system and introduce new rules to deal with the long queues that have accumulated as a result of the financial crisis. The campaign advocates for increased transparency around trading so that participants can see borrowed funds and other financial players.

The deputy general director of the company said that the settlement order for the stock of aluminum is 3.3 million tons. Inventories can be calculated when they are held in warehouses listed on stock exchanges such as the London Metal Exchange.