GENEVA United Co. Rusal (UC Rusal) has completed 350,000 tonnes of planned production cuts at its aluminum smelters and is considering making more, the companys first deputy chief executive officer Vladislav Soloviev told AMM.
The cuts were made at Moscow-based UC Rusals Volkhov, Volgograd and Ural smelters, as well as the first stage of its Novokuznetsk smelter, Soloviev said.
UC Rusal, the worlds largest aluminum producer based on current output, is considering more cuts and is reviewing the second stage of Novokuznetsk, which is equivalent to around 200,000 tonnes, he said.
UC Rusal is also postponing for one year the start-up of its Boguchansk smelter, part of the large-scale Boguchanskoye Energy and Metals Complex (Bemo) project.
"Well have a one-year delay and then review the situation," Soloviev said.
It has also postponed construction of the smelter at Taishet Aluminium Smelter until the start of 2014 and will revisit the project then, he added. Taishet, in the Irkutsk region of Russia, has a slated capacity of 750,000 tonnes a year.
UC Rusal, like Pittsburgh-based Alcoa Inc., is leading the way with output cuts.