UCRUSAL predicted aluminium price of next year to soar 45%

Russia Aluminum Industry United Company(UCRUSAL), the world¡¯s largest aluminium producer, predicted that aluminium price of next year would soar by 45% to US$4000 per ton because of oversupply. It also said that China was one of the main markets the company was likely to develop, and would market 5% of its aluminium products to China in 2009. 

Electric shortage in China has resulted in output cut for 5% to 10% in 20 main aluminium companies in mainland China including Aluminium Corporation of China. UCRUSAL predicted future aluminium price would continue to rise, expected to reach US$4000 per ton from the present US$2780; this situation would last in the following three years for oversupply.

RUSAL indicated that it would marching into China market exerted by its geographical predominance. The company has, at present, two electrobath plants in Shanxi, and is planning to construct hydro-powered aluminium smelting plant of 500000T in Qinghai.

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