Rusal Gets Approval to Refinance $6 BLN Debt With Sberbank; Indian Aluminum Up

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“Russia’s aluminium giant Rusal has got an approval to refinance $6 billion debt with the country’s largest lender Sberbank, Rusal Deputy Chief Executive Oleg Mukhamedshin told Reuters,” reports Reuters.

“‘We have finished our discussions and we have credit approval,” Mukhamedshin said. “So currently we are finalising the … process.'”

In metal price news for aluminum…

On Wednesday, March 5, the day’s biggest mover was the Indian aluminum cash price, which saw a 4.8 percent increase. This increase comes after the price fell for the two previous days. On the LME, the cash price of primary aluminum increased 0.7 percent to $1,687 per metric ton. On the LME, the aluminum 3-month price gained 0.6 percent to finish at $1,733 per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices were flat for the day. The cash price of Chinese aluminum flattened following two-days of declines. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat. The price of Chinese aluminum billet was unchanged. The price of Chinese aluminum bar continues to hover for the fifth day in a row.