UC Rusal took the unusual step of responding to a Politico story about a former attorney, Leigh Sprague, who is serving a 50-month sentence in federal prison for attempting to steal $5 million from Rusal. Sprague used to represent Rusal before the company participated in a sting operation that ended with his conviction for theft in federal court.
Sprague framed his misdeeds as an attempt to steal money from Russian oligarchs, particularly Rusal CEO Oleg Deripaska. Writing for Rusal, Spokeswoman Vera Kurochkina ,The victim of these crimes was not a ‘crony’ or an individual at all, but rather UC Rusal, a publicly traded company and the world’s largest aluminum producer with over 70,000 employees in 19 countries.”
Kurochkina even took umbrage with the title of Sprague’s piece (“I Stole $15 Million From a Russian Oligarch”) writing “Even the title is inaccurate, in that the imprisoned Mr. Sprague stole $10 million, and was caught when he tried to steal $5 million more.”
The cash price of primary Indian aluminum closed up Wednesday, September 17 at INR 124.60 ($2.05) per kilogram, halting two days of weakening prices with a 1.3 percent shift. On the LME, the primary aluminum cash price rose 0.6 percent to $1,969 per metric ton. At $2,005, the 3-month price of aluminum finished the market day on the LME up 0.2 percent per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 12,250 ($1,995) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,213) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,200 ($2,312) per metric ton. The cash price of Chinese aluminum saw essentially no change for the fifth day in a row, remaining around CNY 13,960 ($2,273) per metric ton.