MOSCOW Feb 1 Aluminium prices are expected
to rise up to 10 percent from their current value by the end of
the second quarter, as output cuts take effect, a senior
executive at Rusal, the world's largest producer of
the metal, said on Wednesday.
Prices could rise up to $2,400-$2,500 per tonne, Rusal
executive Oleg Mukhamedshin forcecast.
Aluminium prices ended last year near 18-month lows on
concerns about economic weakness and oversupply, prompting
Alcoa and Norsk Hydro to cut capacity. Rusal is also considering
Still, Mukhamedshin forecast that demand from Asia and the
U.S. will rise this year which, together with the reduced
output, will support prices.