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Steel News

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Home Steel News UC Rusal invites Chinese enterprises to invest in Siberia
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UC Rusal invites Chinese enterprises to invest in Siberia

18 Sep 2012 11:43 reported by Alicia Chu

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United Company RUSAL (UC RUSAL), the world’s largest aluminum producer has invited the Chinese enterprises to invest in Siberia and to jointly develop bauxite in Russia.

Oleg Mukhamedshin, the Head of Equity and Strategic Development of UC RUSAL said that Siberia was a good choice for the Chinese enterprises to invest in.

In the first eight months of this year, UC RUSAL inly exported around 100,000 tons of aluminum to China, Mukhamedshin said.

At present, China’s aluminum consumption accounts for 44% of the total consumption in global market.

Mukhamedshin forecasted that China’s aluminum consumption would rise by more than 10% from a year ago in 2012.

Meanwhile, UC RUSAL predicted that the global aluminum consumption would surge to 58.20 million tons by 2015 from the 47.50 million tons in 2012.

Also, China’s aluminum consumption would rise to 2 million tons in the next five years from the current 15 million tons.

Olge Deripaska, the CEO of UC RUSAL estimated that the global aluminum supply would be reduced in the next 6-9 months. He suggested the aluminum producers to reduce the outputs to avoid the losses.

At the same time, Deripaska pointed out that the global aluminum market would face the pressure this year and next year due to uncertain economic outlook.

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Metal Price Index

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