HK Stock Market Move | RUSAL (00486) rose more than 8% during the day and will shut down the Krimniy silicon plant in 2026.

RUSAL (00486) rose by more than 8% during intra-day trading, and as of the time of writing, it had risen by 8.14% to HK$4.65 with a turnover of HK$8.01 million. According to reports from Shanghai Nonferrous Network, RUSAL recently announced that it will cease operations at the Irkutsk Krimniy silicon plant (Kremniy) on January 1, 2026. This move highlights the increasing pressure on Russia's industrial base. The plant will be mothballed as demand has dried up, import silicon has weakened domestic prices, and overseas production is still rising. RUSAL stated that it has informed local authorities of the shutdown and hopes to receive support in addressing the related social impacts. Its second silicon plant, the Ural Silicon Plant, will continue to operate but with a reduced load.