Russias RUSAL calls for state metals reserve

Russia'sUnited Company RUSAL, the world's top aluminium producer, called on thegovernment to create a metals reserve to support the industry through thefinancial crisis, a presentation obtained by Reuters showed. The document, presented at parliamentary hearings at theDuma lower chamber this week, said that such a move would 'restore fairpricing', cut the risks of a metals glut and allow the state to reduce itsexposure to equity investment risks. RUSAL did not specify the volume of metals purchases itwanted the government to make. The company also asked the government to consider a range ofother benefits to industrial producers including reduced tariffs for naturalmonopolies, long-term investment in the electricity sector and support forindustrial projects worth at least $1 billion which also employed at least3,000 workers. SOURCE: Reuters