Russia’s Rusal has resumed supplying the U.S. market with aluminum, according to an article by Reuters. The company was excluded from the sanctions list in late January; however, its founder, Oleg Deripaska, had to give up his control of the company as part of the deal.
Reuters reports that the company missed “the traditional window for contracting sales for this year as it was still negotiating with the U.S. Treasury Department” to be removed for the sanctions list in the fall of 2018.
Rusal CEO Evgenii Nikitin told Reuters, “We hope that we will be able to bring back our clients toward September, the contracting period for 2020.”
The company lost some of its customers, including Atlanta-based aluminum rolling company Novelis, during the sanction period, Reuters reports, adding that Rusal has partially resumed deliveries to the company.
Nikitin also told Reuters that the company was negotiating with other customers, such as Switzerland-based Glencore, for 2020 contracts.
Rusal opened new production capacity at its Boguchansk aluminum smelter in Siberia in late March, which has doubled its capacity to 298,000 metric tons annually. The project cost $1.6 billion, according to a news release issued by Rusal.
The company also is building an aluminum smelter in Taishet, Russia, which Reuters says it is expecting to launch in late 2020.
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