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RUSAL's Q1 aluminum sales up 9.2% QOQ, production remains stable

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RUSAL's Q1 aluminum sales up 9.2% QOQ, production remains stable

United Co. RUSALPlc's aluminum production in the first quarter dropped 0.5% over thelast quarter to 916,000 tonnes with its Russia Siberian smelters accounting for94% of total aluminum output.

Aluminum production in the quarter increased 1.7% year over year,according to the April 29 statement.

Sales for aluminum in the first quarter increased 9.2% over theprevious quarter to 957,000 tonnes mainly due to seasonal factors and the additionof primary aluminum produced at BoguchanyAluminium Smelter. Sales compared to the year-ago quarter increased2.7%.

Alumina production in the first quarter was 1.9 million tonnes,a 1.7% drop quarter over quarter. Quarter over quarter, alumina production at non-Russianoperations decreased 4.3% to 1.2 million tonnes due largely to scheduled repairsperformed at the production facilities, while they increased 12.4% to 677,000 tonnesat Russian operations amid an improved performance at the Achinsk alumina refinery, on a quarterly basis.Alumina production increased 3.6% year over year.

Bauxite output increased 5.6% quarter over quarter to 3 milliontonnes driven largely by an improved performance at Timan and Guyana mines. Year over year, bauxite production was up 1.8%.

Nepheline ore production at Kiya Shaltyr increased 16.7% quarterover quarter to 1.1 million tonnes due to higher demand from the Achinsk aluminarefinery. Compared to the year-ago quarter, production was up 4.2%.

Earlier in the week, RUSAL said it will refinance up to US$700 million of debt due for repaymentthis year and early 2017.