Rusal predicts widening global aluminum deficit in 2018

Oleg Mukhamedshin, director of strategy, business development and financial markets at RUSAL, told reporters on Wednesday that the global deficit in aluminum supplies is expected to increase from 1.3 million tonnes this year to 1.7-1.8 million tonnes in 2018 year. Rusal is the world's second largest aluminum producer, and Mukhamedshin said he believed aluminum prices would remain at their current level in 2017.

“We estimate a possible deficit in the world market at 1.5-2 million tons this year. The deficit will grow next year as well. So far, there are no prerequisites for a price reduction. Our forecast for the balance in the market remains, therefore, we do not expect sharp price movements. We believe that somewhere in the corridor above $ 1900 per ton the price should remain, ”he said.