Tokyo — Russia's Rusal produced 944,000 mt of aluminum ingot in the fourth quarter of 2017, up 1.5% year on year and up 1.4% from the third quarter, the company said Monday.
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Q4 sales were 1 million mt, up 8.5% from a year ago and up 3.3% from the previous quarter.
The value of total sales rose on the back of higher aluminum sales prices, which averaged at $2,264/mt in Q4, up 25.8% from $1,799/mt a year ago, and up 6.5% from $2,124/mt in Q3.
The price comprises of the London Metal Exchange price and regional premiums.
Q4 alumina production was 1.99 million mt, up 2.6% year on year and up 1.3% quarter on quarter.
Total aluminum production for 2017 was 3.71 million mt, up 0.6% year on year, while total alumina output was 7.77 million mt, up 3.3% year on year.
Global aluminum demand in 2017 was 64 million mt, up 6% year on year, and the world was 1 million mt in deficit of the metal, Rusal estimated.
China's 2017 demand was 34.9 million mt, up 7.8% year on year, Rusal added, while demand outside of China was 29.2 million mt, up 3.7%.
"The completion of upgrades of Urals alumina refinery and the Nikolaev refinery in Ukraine in 2017 was largely behind the 3.3% rise in alumina output," Rusal said.