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RusAL shares collapsed by almost a third due to the expectations of next sanctions

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RusAL shares collapsed by almost a third due to the expectations of next sanctions
April 16
09:00 2018

It was a blue Monday, especially for the Russian company RusAl. For an incomplete trading day, the shares of the aluminum giant collapsed by more than 20%. We recall that since the beginning of the month, the overall decline in quotations of securities has amounted to 64%. The market expectations of a new portion of sanctions against the Russian aluminum tycoon Oleg Deripaska from the US Treasury have contributed the negative dynamics.

At the moment, the company’s securities are being traded at 1.58 HKD (Hong Kong dollar) on the Hong Kong Stock Exchange. Thus, in relative figures, the decline since the start of the trading session has totaled 22.5%. An interesting fact is that a week earlier the company’s securities were being traded at 4.65 HKD per share. It happened on the verge of adding RusAl to the “black list” of the US Treasury Department.

Last week, there was an increase in the price of aluminum by 12%. The reason is a decrease in the supply of this rare earth metal on the market by RusAl. We recall that the company delivers about 6% of the world’s aluminum to the market.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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