SYDNEY, May 7 (Reuters) - Australia's Alumina Ltd <AWC.AX>, a global supplier of raw materials to aluminium-makers, expects aluminium prices to bottom out at $2,000 a tonne, just below current levels, the company's chief executive said on Friday.
The metal was finding support from recovering global demand as industrial activity picked up and production costs rose in China, Chief Executive John Bevan told Reuters. China accounts for about 35 percent of world supply of aluminium.
Aluminium has been in a freefall since mid-April dropping 16 percent to around $2,075 a tonne <CMAL3> as of early Friday.
Alumina is a 40 percent partner in the Alcoa World Alumina and Chemicals joint venture with Alcoa <AA.N>, which owns 60 percent.
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