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. Last Updated: 07/27/2016

Russia Still Abides By Aluminum Pact

Russia considers the global aluminum output-cutting deal to be still in force, a senior aluminum official said Monday.

"We consider the deal to be in force until the end of February," said Sergei Znamensky, head of foreign trade at the Aluminy firm. "And we are not going to be the initiator of ending it."

He also said Russian aluminum output in 1996 would be about the same as in 1994.

The 1994 global memorandum to cut output by 10 percent for 18 months to two years is ending, and some countries consider it to have expired Dec. 31, 1995.