UC RUSAL sees 09’ aluminium price to up 45%

www.cnal.com--Aluminium price is expected to rise by 45 percent to $4,000 a ton next year, driven by aluminium profiles in strong demand over supply, said United Company RUSAL, the largest aluminium producer in the world. The company also notes China will be one of its major markets, expecting 5 percent of its aluminium production be exported to the country next year. Major 20 Chinese aluminium producers in the mainland, including Chalco, have cut production by 5% to 10% due to power shortage, so UC Rusal predicts that aluminium price will continue the rising trend, with price soaring to $4,000 next year from the current $2,780, representing a 45% growth. Furthermore, the rising trend is expected to continue in the following two or three years because of strong demand over supply. Due to the company’s favourable geographical position, it will take full advantage to take a place in China, said Rusal. The company has two potline plants in Shanxi province, China, and it has signed a memorandum of understanding with China Power Investment Corp. early this year, aiming to set an 0.5 million tpy aluminium smelter utilizing hydropower in Qinghai Province.