Russias Rusal posts $55 mn net loss in 2012

HONG KONG (AFP) – Russian aluminium giant Rusal on Monday reported a net loss of $55 million for 2012, as the firm said it would cut production following lacklustre demand for the metal and falling prices.The world’s largest aluminium producer fell into the red for the fiscal year ending December 31, 2012, compared with a net profit of $237 million in 2011, the Moscow-based firm said. Revenue fell 11.4 percent to $10.89 billion.”2012 remained particularly challenging for the aluminium industry,” its chief executive Oleg Deripaska said in a filing to the Hong Kong stock exchange, where the firm…

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