HK Stock Market Move | RUSAL (00486) rose over 26% in early trading. The US and Russia may begin negotiations to end the conflict between Russia and Ukraine. The company is the largest aluminum smelter supplier in Russia.

RUSAL (00486) surged more than 26% in the morning session, and as of the time of writing, it was up 18.3% at 3.75 Hong Kong dollars with a turnover of 110.212 million Hong Kong dollars. On the news front, U.S. President Trump stated that he had a conversation with Russian President Putin on Wednesday and both agreed to negotiate an end to the Russia-Ukraine war. Trump posted on social media platform that he plans to call Ukrainian President Zelensky later on Wednesday regarding this conversation. It is worth noting that in January of this year, the Kremlin said that the EU might impose sanctions on Russian aluminum. It is reported that Russian aluminum is one of the world's important producers. According to SMM data, the total production of Russian electrolytic aluminum in 2023 is approximately 4.062 million tons, accounting for about 5.6% of the global total supply, ranking third in the world in terms of production. In addition, Russian aluminum is mainly used for export markets and is an important exporter of aluminum overseas. RUSAL is the largest aluminum smelting supplier in Russia, and according to the company's 2023 annual report data, its largest sales direction is in the Asian region, accounting for as high as 38.4% in 2023.