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IRALCO’s shares at TSE grew 26.9% from April 16 to May 1.
IRALCO’s shares at TSE grew 26.9% from April 16 to May 1.
Thursday, May 03, 2018

IRALCO Prospects Brighten After US Sanctions on Russian Producer Rusal

Thursday, May 03, 2018

IRALCO Prospects Brighten After US Sanctions on Russian Producer Rusal

In market disruptions, one’s loss is usually another’s gain. This was particularly true for the aluminum market in April.
Carnage was unleashed on April 6 by the imposition of United States’ sanctions on Oleg Deripaska and his Rusal aluminum empire. Other producers, including even small-scale ones in Iran, were subsequently the target of investors’ attention.
At a stroke, the sanctions effectively cut off some 3 million tons of aluminum, or roughly 6% of global supply from the markets.
US sanctions targeted Deripaska under a law that ordered the administration of US President Donald Trump to punish Russia for its alleged meddling in the 2016 election. 
Deripaska was identified in a January Treasury report as a Russian oligarch close to the country’s president, Vladimir Putin, Bloomberg reported.
Rusal Plc’s shares consequently plunged as much as 41.8% on April 9, as investors bailed on the stock.

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05/03/2018
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