UC RUSAL bullish on aluminum on Chinese demand

Reuters reported that UC RUSAL was bullish on the metal's price outlook due to growing demand from China which it expects to outweigh any impact from debt problems in the euro zone.

Mr Maxim Sokov head of strategy and deputy CEO of RUSAL said that "We are reasonably bullish on aluminum prices. Mostly it's on the basis of Chinese demand, but also it's on the basis of economic growth picking up in the world. Problems in the euro zone may have some negative impact but not very much.”

Mr Sokov said that we believe the positive driver of China becoming a net importer will overcome certain negative impacts of the European crisis. We are not hanging up on Western Europe but we see the future in China. We also have India following up. There is a huge potential in India as well but it is a bit further in time.

He said that we expect Chinese consumption will double over the course of the next 10 year period which would then mean significant imports and definitely RUSAL is the best placed player in the market to supply the Chinese market.

（Sourced from Reuters）