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Commodities group Glencore bought aluminum from Russian producer Rusal worth $1.06 billion in 2023 as part of their long-term contract, the Russian producer said in an annual report on Friday.
Glencore declined to comment on Friday whether the contract would be extended into 2025. The group said in 2022 it would agree to no new contracts for Russian material but would meet existing obligations.calculation based on the average London Metal Exchange cash price of $2,307 per ton for 2023. In the latest twist, Washington and London prohibited aluminum, copper and nickel made in Russia after April 13 from being delivered to the LME-registered warehouses.
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