RUSAL (00486) shares surged 13.13% during intraday trading on Wednesday, reaching HK$4.71 with a trading volume of HK$7.727 million. The sharp rise comes after U.S. President Trump announced that he has not yet decided on a meeting with Russian President Putin, suggesting there's still a chance for a ceasefire between Ukraine and Russia. This potential diplomatic development has sparked investor optimism, despite earlier statements from White House officials indicating no immediate plans for such a meeting.

The stock's rally also draws attention to RUSAL's significant position in the global aluminum market. According to a report by Kaiyuan Securities, Russia ranks as the world's third-largest raw aluminum producer, with RUSAL being the major contributor to its output. In 2023, RUSAL's raw aluminum production reached an impressive 3.847 million tons, and with the ramp-up of Taishet's capacity, it is expected to hit 3.9 million tons in 2024, accounting for 5% of global aluminum output.

Investors are particularly bullish on RUSAL's prospects given the United States' position as the second-largest aluminum consumer globally. The potential for resumed exports to the U.S. market, coupled with RUSAL's strong production capabilities, is expected to benefit the company through stable orders. This combination of geopolitical developments and RUSAL's robust market position has fueled the significant stock price increase observed in today's trading session.