Russia's Rusal boosted sales in Asia in the first half of 2023 but Europe remained a key market accounting for more than 30% of revenue, the world's largest aluminium producer outside China said on Friday as it reported a slump in profit.
Although Rusal itself is not a target of Western sanctions, its production costs have surged due to the fallout from Russia's 2022 invasion of Ukraine.
However, Rusal's first-half results show that a significant part of the European market, where demand in general has been relatively weak this year, continues to buy Russian-origin aluminium.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Factbox: Europe sees another year of droughts and wildfiresEurope is experiencing another year of droughts and wildfires as scorching temperatures reach alarming levels globally. July has been recorded as the hottest month on both land and sea. In Greece, a wildfire in Mandra has destroyed homes and forced the evacuation of residents. Firefighters are working to control the fire, but other areas in the southeast and west of Athens remain at risk.
Read more »
Exclusive: Biden unlikely to attend ASEAN summits in September on trip to Asia -sourcesU.S. President Joe Biden is unlikely to attend summits with Southeast Asian leaders in Jakarta next month, multiple sources told Reuters, an absence that would raise questions about U.S. commitment to a region vital in its efforts to push back against China's expanding influence.
Read more »
Asia markets poised for weaker open ahead of U.S. inflation dataThe U.S. consumer price index is expected to come in at 3.3% for July, slightly higher than the 3% for June
Read more »
Factbox: Resistance to green policies around EuropeEurope faces growing pushback against policies to address climate change and protect the environment, causing its green agenda to start to fray as severe heatwaves and wildfires rage.
Read more »
'Greenlash' fuels fears for Europe's environmental ambitionsA growing 'greenlash' against Europe's environmental agenda has not so far derailed its decarbonisation plans, but looming elections could put future climate and nature measures at risk.
Read more »
Dozens of migrants dead in latest shipwreck incident as Europe's crisis deepensOfficials have reported three boats sunk in separate incidents over the weekend in the Mediterranean, with over 70 people dead or missing and just over 60 rescued.
Read more »