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U.S. customers scramble to replace Rusal metal after sanctions 10:02pm EDT [Reuters]

ALCOA (AA)  More Company Research Source: Reuters
Last alcoa earnings: 10/17 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF U.S. customers scramble to replace Rusal metal after sanctions | Reuters 4 Min Read NEW YORK (Reuters) - U.S. customers of Rusal are scrambling to figure out how to replace supply from the Russian company after U.S. sanctions on the world’s second-largest aluminum producer caused prices to spike to a seven-year high, the companies and metals analysts said. Morgan Stanley estimates Rusal supplied approximately 9 percent of U.S. aluminum imports in 2017. Alcoa Corp said “considerable uncertainty remains in global supply chain” on Wednesday, partly due to the sanctions. The company will redirect bauxite sales away from Rusal to comply with sanctions, Alcoa executives said on a conference call. “We’re just at the very beginning ... of trying to determine what is the outcome here,” Alcoa Chief Executive Roy Harvey said. U.S.-based rolled aluminum maker Novelis Corp said that it currently sources about 3 percent of its global supply from Rusal, for its Asian business. “We will have to chang [Read more]

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