Rusal expects a global aluminum deficit of up to 1.3 million tons in 2015

Russian United Company RUSAL predicts a global aluminum deficit of 1.3 million tonnes in 2015, which will determine the level of metal prices, as the first deputy CEO said this week at an industry event in Abu Dhabi, the capital of the United Arab Emirates. ...

Vladislav Soloviev, who has held this position at RUSAL since April 2010 and is responsible for the operational management of the company, said that in his opinion “by the end of the year we will have 1.5 million tonnes of deficit, and next year we may have 1, 2 - 1.3 million tons of deficit ”. Rusal had also previously predicted that the aluminum supply deficit would extend through 2017, with the exception of China.

Last month, Rusal reported a return to its first five-quarter profit and gave a positive outlook for aluminum prices, driven by growing demand from automakers and reduced aluminum shipments outside of China. It is interesting that today the aluminum an instrument to buy in an online store has become even easier than in a usual one.

Earlier this month, Rusal completed a decisive restructuring of $ 5.15 billion of debt and has no payments due until January 2016, as the deal does not provide the flexibility to prepay debt when cash flows are strong and pay less when London Metal prices Exchange are falling.

Rusal is also considering a joint project in Eastern Siberia with Chinese aluminum producer Chalco to cover growing consumption in the medium term, while the market is in short supply.