RUSAL (00486-HK) announced its first quarter 2016 operating results, with aluminum production totaling 916,000 tons, down 0.5% from the previous quarter. The average utilization rate of aluminum smelters is 95%. Sales of aluminum rose by 9.2% quarter-on-quarter to 957,000 tons. The increase in sales was mainly due to seasonal factors and the addition of primary aluminium manufactured by BOAZ (Boguchanskyaluminiumsmelter), which is currently operating in a pilot production mode.
In the first quarter of 2006, the sales volume of primary aluminum was higher, and the proportion of value-added products in total aluminum sales fell to 41% (45% in the fourth quarter of 15 years). The number of value-added products sold remained roughly steady.
In the first quarter of 16 years, the average aluminum price 5 and average premium declined during the quotation period of the London Metal Exchange, and the aluminum realized price fell by 3.6% quarter-on-quarter to US$1,666. The decline in premiums is largely due to the delayed recognition of the market premium in the premium and the decline in the proportion of value-added products in the product portfolio.
In the first quarter of 2006, total alumina production was 1,873,000 tons, which was a decrease of 1.7% from the previous period. Alumina production from non-Russian operations decreased by 4.3% quarter-on-quarter to 1,196,000 tons, mainly due to planned maintenance of production facilities (especially Nikolaev alumina refinery and Auginish alumina refinery). Due to the improved performance of the Achinsk alumina refinery, Russian production increased by 12.4% quarter-over-quarter to 677,000 tons.
In the first quarter of 2006, bauxite production increased by 5.6% quarter-on-quarter to 3,009,000 tons, which was mainly driven by the improvement in performance of Timan and Guyana mines. Due to increased demand from the Achinsk alumina refinery, production of KiaShaltur's nepheline ore increased by 16.7% to 1,111,000 tons in the first quarter of 2006.
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