Reuters reported that Russia's United Company RUSAL expects aluminium prices to remain above USD 2,000 per tonne for the rest of the year.
Mr Oleg Mukhamedshin deputy CEO of UC RUSAL said that the company had no need to sell any assets at the moment, as cash flow remained strong.
Earlier in the day, the company reported Q1 net profit of USD 247 million reversing a loss of USD 638 million per year earlier, helped by higher aluminium prices and cost cutting.
According to a poll by Reuters, aluminium prices have been in a free fall since mid April dropping 16% to 3 month low of USD 2,056 per tonne. But the average price is expected stay above USD 2,000 per tonne this year up 20% from 2009.
(Sourced from Reuters)