China, Russia work hands to hold up aluminum price

In the new Sino-Russian energy cooperation agreement, the two sides reached a consensus of reducing the output of aluminum products.

Due to the excessive supply, the aluminum price has ever dropped the lowest since 2009. Aluminum Corporation Of China Limited and the world's top aluminum producer Rusal also joined hands in "smelting new alloys".

Rusal Deputy CEO Oleg Mukhamedshin said, after solving the problem of excessive output, Russia may build a new smelter to provide cleaner aluminum products with more commercial value to the Chinese market and expected the market needs about three years to balance.

Mukhamedshin the two giants may cooperate in alumina and bauxite development and the products will be supplied to the Chinese market.

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