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Rusal expects Aluminum Price to go as High as $2,300/Ton in 2012
Edited by : AL CIRCLE
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United Co. Rusal expects the price of aluminum to rise to $2,200-$2,300 a ton before the end of the year, the company's Chief Financial Officer Evgeny Kornilov told Interfax Thursday.
He said he hoped that the rise in prices in September is "the beginning of a reversal of the situation" in the market. Aluminum traded at $2,074 a ton on Wednesday on the London Metals Exchange, a solid increase from prices that had dipped slightly below $1,800 a ton in mid-August.
In June, Rusal's general director, Vladislav Soloviev predicted that the price of aluminum would not rise higher than $2,100-$2,200 per ton before the end of the year. He forecast that the price would rise to $2,300-$2,500 a ton in 2013.
He said he hoped that the rise in prices in September is "the beginning of a reversal of the situation" in the market. Aluminum traded at $2,074 a ton on Wednesday on the London Metals Exchange, a solid increase from prices that had dipped slightly below $1,800 a ton in mid-August.
In June, Rusal's general director, Vladislav Soloviev predicted that the price of aluminum would not rise higher than $2,100-$2,200 per ton before the end of the year. He forecast that the price would rise to $2,300-$2,500 a ton in 2013.
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