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Rusal shares rise by around 5% and hit new high

The company’s shares are growing amid rising prices for aluminum

MOSCOW, May 7. /TASS/. Shares of Russian aluminum producer Rusal on the Moscow Exchange rose by 4.82% and reached 56.5 rubles ($0.762) per share. Thus, the company’s shares have renewed their historical maximum.

As of 12:57 Moscow time, shares slowed down and traded at 56.325 rubles ($0.76) per share (+ 4.5%)

The company’s shares are growing amid rising prices for aluminum. So, as of 12:52 Moscow time, the price of aluminum on the London Metal Exchange grew by 2.17% reaching $2,542.5 per tonne.

Rusal is the largest aluminum producer outside China and the only primary aluminum producer in Russia. At the end of 2020, the company produced 3.755 mln tonnes of aluminum, while sales decreased to 3.926 mln tonnes (-6%).