HK Stock Movement | RUSAL (00486) Surges Over 8% Intraday, Announces Shutdown of Kremniy Silicon Plant by 2026

Stock News11-24

RUSAL (00486) saw its shares surge more than 8% intraday. At the time of writing, the stock was up 8.14% to HKD 4.65, with a turnover of HKD 8.01 million.

According to reports, RUSAL announced that it will cease operations at its Kremniy silicon plant in Irkutsk on January 1, 2026, highlighting growing pressures on Russia's industrial base. The plant will be idled due to dwindling demand, as imported silicon undercuts domestic prices and overseas production continues to rise.

RUSAL stated that it has informed regional authorities about the shutdown and hopes to receive support in addressing related social impacts. Its second silicon plant, the Ural Silicon Plant, will remain operational but at reduced capacity.

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