RUSAL, the world’s top aluminum producer, announced on Monday that its second-quarter net profit fell by 70% compared to the same period last year. As the price of raw materials rose due to the weakness of oil prices and the US dollar, the production costs of the entire aluminum industry rose.
In the second quarter of this year, Rusal’s net profit was US$339 million, compared to US$1.118 billion in the same period last year. Reuters eight analysts on average forecast for 470 million US dollars. Its first-half net profit was $1.085 billion, down 20.5%.
Rusal rival Alcoa announced in mid-July that due to the increase in aluminum prices and alumina prices, net profit in the second quarter increased by nearly 1.4 times.
In the second quarter of this year, Rusal’s net profit was US$339 million, compared to US$1.118 billion in the same period last year. Reuters eight analysts on average forecast for 470 million US dollars. Its first-half net profit was $1.085 billion, down 20.5%.
Rusal rival Alcoa announced in mid-July that due to the increase in aluminum prices and alumina prices, net profit in the second quarter increased by nearly 1.4 times.
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