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Today's paper. Last Updated: 06/03/2012

Russia Holds Its Stance on Aluminum

Russia will tell other aluminum producers meeting in Australia this week that it will continue to comply with a global deal to cut aluminum output if others do the same, a senior industry official said.


Vladimir Kalchenko, first deputy chairman of Aluminiy producers' group, said Russia was dissatisfied because a number of aluminum- producing nations were not cutting output.


"Our position has not changed -- we will continue to cut production on the condition that others do the same," Kalchenko said in a telephone interview. "Our complaints first of all concern such big Latin American producers as Venezuela and Brazil."


Company officials at Brazilian aluminum producer Aluminio do Maranhao said earlier this month they would increase production slightly this year.


Up to 40 government representatives from Australia, the United States, Norway, Canada, the European Union and Russia will meet in Canberra on Thursday to discuss the state of the industry.


Kalchenko said Russia had cut output by 200,000 tons as of July 1. Under the agreement reached in January, Russia promised to cut output in two stages -- by 300,000 tons by April and another 200,000 tons by August.


But he said lower aluminum exports and higher domestic consumption were encouraging signs.


Kalchenko could not give precise figures for aluminum exports in the first six months of this year but said informal data showed a decline as compared with July-December 1993.




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