THE WORLD’S largest aluminium producer UC Rusal yesterday said it expects strong growth in demand from China this year, as it reported flat first-quarter revenue and a fall in output.
The Moscow-headquartered company forecasts global aluminium demand of six per cent this year, with a 10 per cent increase in China, the world’s largest consumer of commodities.
“We are seeing positive trends,” said chief executive Oleg Deripaska.
Rusal’s aluminium production fell by 2.3 per cent to 883,000 tonnes in the first quarter, which it attributed to mothballed smelters in parts of Russia.
Revenue remained at $2.1bn (£1.25bn), as the 3.4 per cent decrease in the aluminium price over the period was offset by higher volumes sold and higher average realised premiums.