RBC: “Rusal” proposed to change the formula for calculating the price of aluminum in Russia

"Rusal" proposed to change from October 1, 2026 the formula for calculating the price of primary aluminum in the Russian market, reports RBC with reference to sources. However, the company has not yet coordinated a new formula with the Federal Antimonopoly Service (FAS), the press service of the department told TASS.

According to the publication, Rusal presented the proposal at a closed meeting with aluminum consumers. The current formula includes the price on the London Metal Exchange (LME) with the addition of the European Regional Award (MB Rotterdam). The new price will be calculated as a weighted combination of LME quotes with regional premiums from three groups of export markets and the Shanghai Futures Exchange (SHFE) index for the domestic Chinese market.

The share of each of the components will be determined on the basis of the export structure of Rusal. After June 2027, the indicator will be recalculated every six months based on data for the previous period. The shares will be confirmed by an external auditor. The innovation will reduce prices in the range from $40 to $100 per ton. The revision relates to the need to align the formula with the actual geography of exports.

This pricing formula was not coordinated with the FAS Russia. The service continues to work out with the Rusal group and aluminum consumers a formula that will take into account the interests of all market participants, the FAS said in a comment to TASS. In addition, the Agency continues to consider cases of violation of “Rusal” antimonopoly legislation, added to the FAS.