Russian aluminium giant Rusal said on Thursday its recurring net loss totalled $76-million in the first half of 2020 after a profit of $666-million a year ago as the novel coronavirus outbreak hit demand.
Hong-Kong listed Rusal, the world’s largest aluminium producer outside China, said that it expected global aluminium prices to continue to remain at depressed levels in 2020.
The company posted adjusted earnings before interest, tax, depreciation and amortisation of $219-million for six months ended June 30, down 58.5% from a year ago, while revenue fell 15% to $4-billion.