Rusal Faces Financial Downturn Amid Growing Costs

Rusal, a leading aluminum producer outside China, reported an $87 million loss in the first half of the year, a significant downturn from a $565 million profit in the same period last year. Rising costs and financial expenses were cited as major factors behind this loss.

Rusal, the largest aluminum producer outside China, announced a staggering shift in its financial performance, swinging to a loss in the first half of the year.

The company, listed in Hong Kong, reported an $87 million loss for the six-month period ending June 30, a stark contrast to a $565 million profit recorded in the previous year.

Increasing costs of sales and financial expenses played significant roles in this decline, reflecting the mounting challenges faced by the aluminum industry.

(With inputs from agencies.)