Russia's UC Rusal expects aluminium prices to be $2,400/$2,700 a tonne next year, Chief Executive Oleg Deripaska said on Tuesday.
The company, the world's largest aluminium producer, also expects a global surplus of the metal of 500,000 to 700,000 tonnes this year, he said in London.
"Demand is very strong," he said. "We hope that by the middle of next year the market will be balanced."
He said increased demand and shutdowns of insufficient capacity would boost prices. LME three months aluminium futures CMAL3 were trading at about $1,968 a tonne on Tuesday.