Rusal: aluminum market gap is 1 million 100 thousand tons at the end of 2010
Foreign news November 13th, Russian Aluminum Corporation (RUSAL) said on Monday, the company's core revenue in the third quarter is better than market expectations, due to the rise in aluminum prices and high profit products sales increased and so on.
The company announced that before the third quarter tax interest depreciation and amortization before profit (EBITDA) soared 30% to 549 million U.S. dollars, higher than the same period last year, 421 million U.S. dollars and market expectations of 515 million U.S. dollars. Vladislav Soloviev, the company's chief executive, said strong demand and higher aluminium prices were the main reasons for the company's increased revenues.
High value-added products account for half of their total sales, and are expected to increase to 60% by 2021, he said.
He said aluminum prices were supported by China's winter limiting factors.
By the end of the year, the global supply and demand gap of aluminum market will reach 1 million 100 thousand tons, and the global aluminum demand will increase to 63 million 100 thousand tons by the end of this year."