HK Stocks in Focus: RUSAL (00486) Surges Over 12% Amid Possible US-Russia Leader Meeting; Ranked Third in Global Aluminum Production

Stock News
Oct 22

RUSAL (00486) experienced a surge of over 12% during intraday trading, with a current increase of 8.53% at HK$4.71 and a trading volume of HK$7.727 million. On the news front, on the 21st local time, U.S. President Trump announced that he has not yet made a decision regarding a meeting with Putin. Trump also expressed his belief that there is still a chance for a ceasefire between Ukraine and Russia. Earlier on the same day, senior officials from the White House indicated that there are currently no plans for a meeting between Trump and Putin. According to a report by Kaiyuan Securities, Russia ranks as the third largest raw aluminum producer globally, with RUSAL being the major contributor to its output. In 2023, RUSAL's raw aluminum production reached 3.847 million tons, and with the ramp-up of Taishet's capacity, it is expected to reach 3.9 million tons in 2024, supplying 5% of the world’s aluminum output. The United States is the second largest aluminum consumer globally, and with the resumption of exports, RUSAL is expected to benefit from stable orders.

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