The company said net profit for the three months ended September 30 fell to $29M from $64M a year earlier, as finance expenses related to debt restructuring increased sharply to $699M from $276M year earlier.

Rusal said its business has benefitted from the resurgence of the automotive and transportation sectors, in which aluminium extrusion and related products are their major production materials.

“Growth excluding China has been very strong, indicating that Western markets have rebounded positively from the financial crisis,” it said.

Rusal expects prices to remain at the current level of $2300/t through the end of this year, supported by tight aluminium supplies and the continued weakness in the US dollar, which has encouraged investors to invest in physical assets.