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UPDATE 6-U.S. extends deadline for Rusal sanctions, aluminum prices dive [Reuters]

ALCOA (AA)  More Company Research Source: Reuters
Last alcoa earnings: 7/18 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF U.S. extends deadline for Rusal sanctions, aluminum prices dive | Reuters 4 Min Read WASHINGTON/MOSCOW (Reuters) - The United States on Monday gave American customers of Russia’s biggest aluminum producer more time to comply with sanctions, and said it would consider lifting them if United Company Rusal Plc’s major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. Aluminum prices on the London Metal Exchange tumbled 8.7 percent on the U.S. Treasury Department announcement, which gives Rusal longer to sell off large quantities of aluminum it had been stockpiling in the wake of sanctions. Last week, aluminum prices rallied to their highest in years after Washington, in response to what it called “malign activities” by Russia, imposed the sanctions that will in effect choke off access for Deripaska’s businesses to the international financial system. Treasury gave Americans until Oct. 23 instead of June 5 to wind down business with Rusal. It said it would not impos [Read more]

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