UC Rusal Creates New Role for Founder Deripaska

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United Company Rusal Plc‘s billionaire company founder Oleg Deripaska will take on a new role as president of the Russian aluminium giant, with his right hand man promoted to the job of chief executive, the Kiev Post reported.

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Vladislav Soloviev, previously First Deputy CEO, recently became CEO.

Closing at CNY 14,510 ($2,358) per metric ton on the Tuesday, December 2, Chinese aluminum bar rose 7.3% to finish as the day’s biggest mover. After a couple of days of decreasing prices, the cash price of Chinese aluminum held steady at CNY 13,520 ($2,197). The price of Chinese aluminum billet remained essentially flat at CNY 13,900 ($2,258) per metric ton. The price of Chinese aluminum scrap remained steady at CNY 12,700 ($2,063) per metric ton.

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The primary aluminum cash price continues its trend downwards. Finishing the day at $2,021 per metric ton, it dropped 2.4% on the LME. The 3-month price of aluminum weakened by 1.4% on the LME, settling at $1,998 per metric ton. Following a two-day drop, the cash price of primary Indian aluminum increased by 0.2% to INR 125.95 ($2.03) per kilogram.

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