Deripaska's Rusal and aluminium market roiled by US sanctions

Russian aluminum maker United Co. Rusal’s stock plunged about 40%, while prices of the metal surged, after US sanctions on the company and its billionaire owner Oleg Deripaska prompted the producer to warn of potential debt defaults and “materially adverse” consequences. The stock fell to HK$2.81 on Monday, according to pricing from the Hong Kong Exchanges & Clearing website. Aluminum prices jumped as much as 2.5% to $2 092 a metric ton on the London Metal Exchange, extending a 1.6% gain in the previous session, as investors bet on supply disruptions.