(MENAFN) The world's No. 1 aluminum producer Rusal said it returned to a profit in the third-quarter period from a year ago, led by rising metal prices and cost reductions, AFP reported.
The firm's net profit hit USD220 million in the three months ending September 30, compared with a USD172-million loss registered a year earlier, the Moscow-based company said
The company attributed the reversal to procurement savings and cost cutting, with the firm's chief executive adding that increasing demand was spurring the sector.
"Healthy consumption growth coupled with production curtailments have led to a deficit in the global market. Cost controls and increasing margins had also helped produce significantly improved third-quarter results," he said.
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