Russia's RUSAL , the world's largest aluminum producer, expects to become a net importer of the industrial metal in "some quarters" of 2012, a senior RUSAL official said at the Reuters Russia Investment Summit.
"Thus far, China has not become a net importer of aluminum, but only (achieved this) by reducing on the Shanghai exchange," Maxim Sokov, RUSAL's director for strategy told the Summit, held at Reuters' office in Moscow, adding that analysts at CRU found that inventories were down sharply from the start of July.
"This is already a serious signal that we could see Chinese aluminum imports at the end of this year or the start of next year."
Aluminum is a key metal for industries ranging from auto production to construction, and it is one of many materials in demand as the China continues to grow.
Sokov said aluminum prices could reach $2,500-$2,600 by the end of the year thanks to Chinese demand if there are no significant macroeconomic shocks.
Earlier this month, RUSAL said such prices would not be seen until next year. Three months aluminum on the London Metal Exchange was trading at $2,379 a tonne on Tuesday morning.
However, RUSAL said market volatility has forced to postpone plans for an aluminum exchange traded fund (ETF) mooted last year.
"Market volatility and declining prices for non-ferrous metals have led to declining interest from investors and producers in an ETF," Sokov said.
The executive also said RUSAL could be interested in acquiring power generation assets from RusHydro , Russia's largest hydroelectric energy company.
"There is no question that investing in energy assets, including those of RusHydro, could be of interest to us. For example, individual stations, that would have synergies with our plants."
The Russian government wants to sell part of the company as part of its planned $200 billion privatization program.
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